{"title":"Understanding Consumer Inflation Expectations during the COVID-19 Pandemic","authors":"Gunda-Alexandra Detmers, Sui-Jade Ho, Özer Karagedikli","doi":"10.1111/1467-8462.12460","DOIUrl":null,"url":null,"abstract":"<p>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.</p>","PeriodicalId":46348,"journal":{"name":"Australian Economic Review","volume":"55 1","pages":"141-154"},"PeriodicalIF":1.0000,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8462.12460","citationCount":"6","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Australian Economic Review","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/1467-8462.12460","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 6
Abstract
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.
期刊介绍：
An applied economics journal with a strong policy orientation, The Australian Economic Review publishes high-quality articles applying economic analysis to a wide range of macroeconomic and microeconomic topics relevant to both economic and social policy issues. Produced by the Melbourne Institute of Applied Economic and Social Research, it is the leading journal of its kind in Australia and the Asia-Pacific region. While it is of special interest to Australian academics, students, policy makers, and others interested in the Australian economy, the journal also considers matters of international interest.
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