| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21814 |
| 来源ID | Working Paper 21814 |
| Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand | |
| Saten Kumar; Hassan Afrouzi; Olivier Coibion; Yuriy Gorodnichenko | |
| 发表日期 | 2015-12-21 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We study the (lack of) anchoring of inflation expectations in New Zealand using a new survey of firms. Managers of these firms display little anchoring of inflation expectations, despite twenty-five years of inflation targeting by the Reserve Bank of New Zealand, a fact which we document along a number of dimensions. Managers are unaware of the identities of central bankers as well as central banks’ objectives, and are generally poorly informed about recent inflation dynamics. Their forecasts of future inflation reflect high levels of uncertainty and are extremely dispersed as well as volatile at both short and long-run horizons. Similar results can be found in the U.S. using currently available surveys as shown in Binder (2015). |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w21814 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579488 |
| 推荐引用方式 GB/T 7714 | Saten Kumar,Hassan Afrouzi,Olivier Coibion,et al. Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand. 2015. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w21814.pdf（384KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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