TY - JOUR
T1 - Understanding Consumer Inflation Expectations during the COVID-19 Pandemic
AU - Detmers, Gunda-Alexandra
AU - Ho, Sui-Jade
AU - Karagedikli, Özer
PY - 2022
Y1 - 2022
N2 - We study how individuals' formation of inflation expectations are affected by the stringent containment and economic support measures put in place during the COVID-19 pandemic. Using the New York Fed Survey of Consumer Expectations (SCE) and the Oxford COVID-19 Government Response Tracker (OxCGRT), we find that policies aimed at containing the pandemic lead to an increase in individuals' inflation expectations and inflation uncertainty. We also find some heterogeneity in the impact across different demographic groups.
AB - We study how individuals' formation of inflation expectations are affected by the stringent containment and economic support measures put in place during the COVID-19 pandemic. Using the New York Fed Survey of Consumer Expectations (SCE) and the Oxford COVID-19 Government Response Tracker (OxCGRT), we find that policies aimed at containing the pandemic lead to an increase in individuals' inflation expectations and inflation uncertainty. We also find some heterogeneity in the impact across different demographic groups.
U2 - 10.1111/1467-8462.12460
DO - 10.1111/1467-8462.12460
M3 - Article
VL - 55
SP - 141
EP - 154
JO - The Australian Economic Review
JF - The Australian Economic Review
IS - 1
ER -