Veranstaltungen

24. September 2024, 16:00 bis 17:30

Theory & Policy Seminar / William Branch (UC Irvine) / Identifying the Impact of Inflation Expectations

Seminar

William Branch will give a talk at our Econonomic Theory and Policy Seminar.

William Branch, öffnet eine externe URL in einem neuen Fenster (University of California, Irvine)

"Identifying the Impact of Inflation Expectations"

Individuals form inflation expectations differently based on their demographics and locations. Consequently, different demographic groups respond differently to sectoral price changes, a fact that we exploit to identify the inflationary impact of expectations. Our instrument combines national expectations of specific groups with these groups’ share in regional populations. We find that a one-percentagepoint rise in the expected rate of inflation increases (regional) inflation by 60 basis points. Interestingly, long-run expectations– say, over 5 to 10 years– don’t seem to matter much. The estimates are most robust for a particular demographic: younger, married individuals holding at least a high school diploma. Their expectations mainly influence the prices of non-durable goods.

Kalendereintrag

Veranstaltung Details

Veranstaltungsort
TU Wien, Freihaus
1040 Vienna
Wiedner Hauptstr. 8-10, Seminarroom: DB04 yellow (4th floor, yellow area)
Veranstalter
ECON
Julia Hutter
julia.hutter@tuwien.ac.at
Öffentlich
Ja
Kostenpflichtig
Nein
Anmeldung erforderlich
Nein