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The divergence between core and headline inflation: Implications for consumers' inflation expectations

Arora, Vipin; Gomis-Porqueras, Pedro; Shi, ShuPing


We show that US consumer inflation expectations are formed using a variant of adaptive expectations proposed by Mankiw et al. (2004). In particular, expectations behave differently when food and energy prices rise sharply relative to other prices. Using t

CollectionsANU Research Publications
Date published: 2013
Type: Journal article
Source: Journal of Macroeconomics
DOI: 10.1016/j.jmacro.2013.07.006


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