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Seminario Dpto. Economía: "Inflation persistence, noisy information and the Phillips curve"
Cuándo: jueves,
5 de octubre de 2023
12:00
Dónde: Sala de reuniones del Departamento de Economía.
Descripción: Ponente: José Elias Gallegos (BdE)
A vast literature has documented that US inflation persistence has fallen in recent decades, but this finding is difficult to explain in monetary models. Using survey data on inflation expectations, I document a positive co-movement between ex-ante average forecast errors and forecast revisions (suggesting forecast sluggishness) from 1968 to 1984, but no co- movement afterward.
A vast literature has documented that US inflation persistence has fallen in recent decades, but this finding is difficult to explain in monetary models. Using survey data on inflation expectations, I document a positive co-movement between ex-ante average forecast errors and forecast revisions (suggesting forecast sluggishness) from 1968 to 1984, but no co- movement afterward.
Contacto:
Departamento de Economía
Áreas Temáticas: Pamplona, Seminarios