| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29376 |
| 来源ID | Working Paper 29376 |
| Firms' Inflation Expectations: New Evidence from France | |
| Frédérique Savignac; Erwan Gautier; Yuriy Gorodnichenko; Olivier Coibion | |
| 发表日期 | 2021-10-18 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Using a new survey of firms’ inflation expectations in France, we provide novel evidence about the measurement and formation of inflation expectations on the part of firms. First, French firms report inflation expectations with a smaller, but still positive, bias than households and display less disagreement. Second, we characterize the extent and manner in which the wording of questions matters for the measurement of firms’ inflation expectations. Third, we document whether and how the position of the respondent within the firm affects the provided responses. Fourth, because our survey measures firms’ expectations about aggregate and firm-level wage growth along with their inflation expectations, we are able to show that expectations about wages are even more condensed than firms’ inflation expectations and almost completely uncorrelated with them, indicating that firms perceive little link between price and wage inflation. Finally, an experimental treatment indicates that an exogenous change in firms’ inflation expectations has no effect on their aggregate wage expectations. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w29376 |
| 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/587050 |
| 推荐引用方式 GB/T 7714 | Frédérique Savignac,Erwan Gautier,Yuriy Gorodnichenko,et al. Firms' Inflation Expectations: New Evidence from France. 2021. |
| 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 | ||
| w29376.pdf（1490KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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