مقاله انگلیسی رایگان در مورد ارزیابی انتظارات (کاهش) لنگر تورم طولانی مدت خانوارها – الزویر ۲۰۲۰
مشخصات مقاله | |
ترجمه عنوان مقاله | ارزیابی انتظارات (کاهش) لنگر تورم طولانی مدت خانوارها در ایالات متحده |
عنوان انگلیسی مقاله | Assessing the (de-)anchoring of households’ long-term inflation expectations in the US |
انتشار | مقاله سال ۲۰۲۰ |
تعداد صفحات مقاله انگلیسی | ۱۳ صفحه |
هزینه | دانلود مقاله انگلیسی رایگان میباشد. |
پایگاه داده | نشریه الزویر |
نوع نگارش مقاله |
مقاله پژوهشی (Research Article) |
مقاله بیس | این مقاله بیس میباشد |
نمایه (index) | Scopus – Master Journals List – JCR |
نوع مقاله | ISI |
فرمت مقاله انگلیسی | |
ایمپکت فاکتور(IF) |
۱٫۰۷۵ در سال ۲۰۱۹ |
شاخص H_index | ۴۰ در سال ۲۰۲۰ |
شاخص SJR | ۰٫۶۸۰ در سال ۲۰۱۹ |
شناسه ISSN | ۰۱۶۴-۰۷۰۴ |
شاخص Quartile (چارک) | Q2 در سال ۲۰۱۹ |
مدل مفهومی | دارد |
پرسشنامه | ندارد |
متغیر | دارد |
رفرنس | دارد |
رشته های مرتبط | اقتصاد |
گرایش های مرتبط | اقتصادسنجی، اقتصاد مالی، اقتصاد پولی |
نوع ارائه مقاله |
ژورنال |
مجله | مجله اقتصاد کلان – Journal Of Macroeconomics |
دانشگاه | Department of Economics & Business Environment, Indian Institute of Management Raipur, Raipur, Chhattisgarh 493661, India |
کلمات کلیدی | انتظارات تورم، ادراکات تورم، سیاست پولی، عدم قطعیت سیاست اقتصادی |
کلمات کلیدی انگلیسی | Inflation expectations، Perceptions of inflation، Monetary policy، Economic policy uncertainty |
شناسه دیجیتال – doi |
https://doi.org/10.1016/j.jmacro.2019.103183 |
کد محصول | E14473 |
وضعیت ترجمه مقاله | ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید. |
دانلود رایگان مقاله | دانلود رایگان مقاله انگلیسی |
سفارش ترجمه این مقاله | سفارش ترجمه این مقاله |
فهرست مطالب مقاله: |
Abstract
۱- Introduction ۲- Households’ inflation expectations in the US ۳- Empirical model ۴- Results ۵- Conclusion References |
بخشی از متن مقاله: |
Abstract Well-anchored inflation expectations play an important role in the achievement of price stability. The (de-)anchoring of long-term inflation expectations in the US has been under debate since the sub-prime crisis. This paper assesses and explains the evolution of the degree of (de-)anchorage of households’ long-term inflation expectations in the US during the period of 1990 to 2019, in a time-varying framework. We find the long-term inflation expectations to be de-anchored during the entire study period. The de-anchorage was greater in the first half of the 1990s. Subsequently, it has declined but has not yet anchored. An increase in inflation perception reduces the degree of de-anchorage in a (persistently) low-inflation perception period, whereas it causes a rise in the degree of de-anchorage when inflation perception is around its long-term average or is persistently high. Further, a rise in economic policy uncertainty also increases the de-anchorage of households’ long-term inflation expectations. This suggests that the Federal Reserve System (Fed) may find it beneficial to pay more attention to households’ inflation perception. Introduction Well-anchored long-term inflation expectations are very important for the successful conduct of monetary policy in an inflationtargeting economy. Central banks often adopt an explicit numeral inflation target, partly to anchor long-term inflation expectations. If the central bank is credible, the target inflation should anchor the long-term inflation expectations. Accordingly, the long-term inflation expectations are expected to be determined only by target inflation, not by actual inflation, news, and/or short-term inflation expectations. The (de-)anchoring of long-term inflation expectations in the US, the Euro area, and the emerging economies has been under debate since the sub-prime crisis. The empirical results are mixed, ranging from perfect anchoring to severe de-anchoring. For instance, in the context of the US, several studies have found the long-term inflation expectations to be perfectly anchored (Blanchard, 2016; Buono and Formai, 2018; Nautz et al., 2019; Strohsal et al., 2016), whereas a few studies have shown them to be de-anchored (Kumar et al., 2015; Nautz and Strohsal, 2015). Similarly, in the context of the Euro area, Scharnagl and Stapf (2015) have found that the medium- to long-term inflation expectations are well anchored, whereas Cruijsen and Demertzis (2011) have determined that inflation expectations are less well-anchored. Further, de Mendonça (2018) has shown that the inflation expectations in seven inflation-targeting emerging economies (Brazil, Chile, Colombia, Mexico, Poland, South Africa, and Turkey) are not perfectly anchored. |