First-order and higher-order inflation expectations: evidence about households and firms
We study the relationship between first-order and higher-order inflation expectations. Using two novel survey modules of German households and firms, we establish several new insights on the relation between different orders of beliefs. While our results are remarkably consistent for households and...
Gespeichert in:
| Hauptverfasser: | , , , , |
|---|---|
| Dokumenttyp: | Article (Journal) |
| Sprache: | Englisch |
| Veröffentlicht: |
2025
|
| In: |
Journal of economic behavior & organization
Year: 2025, Jahrgang: 233, Pages: 1-14 |
| ISSN: | 1879-1751 |
| DOI: | 10.1016/j.jebo.2025.106988 |
| Schlagworte: | |
| Online-Zugang: | Verlag, kostenfrei: https://www.sciencedirect.com/science/article/pii/S0167268125001088/pdfft?md5=5451d75d8b74d3d80d61a938704ee235&pid=1-s2.0-S0167268125001088-main.pdf Resolving-System, kostenfrei, Volltext: https://doi.org/10.1016/j.jebo.2025.106988 Verlag, kostenfrei, Volltext: https://www.sciencedirect.com/science/article/pii/S0167268125001088 
|
| Verfasserangaben: | Pascal Kieren, Christian König-Kersting, Robert Schmidt, Stefan Trautmann, Franziska Heinicke |
MARC
| LEADER | 00000caa a2200000 c 4500 | ||
|---|---|---|---|
| 001 | 1927420938 | ||
| 003 | DE-627 | ||
| 005 | 20251105121951.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 250604s2025 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1016/j.jebo.2025.106988 |2 doi | |
| 035 | |a (DE-627)1927420938 | ||
| 035 | |a (DE-599)KXP1927420938 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 17 |2 sdnb | ||
| 100 | 1 | |a Kieren, Pascal |d 1991- |e VerfasserIn |0 (DE-588)1222302969 |0 (DE-627)1741332796 |4 aut | |
| 245 | 1 | 0 | |a First-order and higher-order inflation expectations |b evidence about households and firms |c Pascal Kieren, Christian König-Kersting, Robert Schmidt, Stefan Trautmann, Franziska Heinicke |
| 264 | 1 | |c 2025 | |
| 300 | |b Illustrationen | ||
| 300 | |a 14 | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 500 | |a Online verfügbar: 29. März 2025, Artikelversion: 29. März 2025 | ||
| 500 | |a Gesehen am 04.06.2025 | ||
| 520 | |a We study the relationship between first-order and higher-order inflation expectations. Using two novel survey modules of German households and firms, we establish several new insights on the relation between different orders of beliefs. While our results are remarkably consistent for households and firm managers, they exhibit relevant differences to previous results documented in the literature. Most importantly, our results show that uncertainty aggregates when individuals think about the beliefs of others relative to their own beliefs. We derive implications for calibrating noisy information models with infinite regress and discuss potential sources for differences in results documented in the literature and their theoretical implications. | ||
| 650 | 4 | |a Higher-order beliefs |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Inflation expectations |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Noisy-information models |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Surveys |7 (dpeaa)DE-206 | |
| 655 | 4 | |0 (DE-206)49 |a Aufsatz in Zeitschrift |5 DE-206 | |
| 700 | 1 | |a König-Kersting, Christian |d 1989- |e VerfasserIn |0 (DE-588)1110801173 |0 (DE-627)865179549 |0 (DE-576)475795989 |4 aut | |
| 700 | 1 | |a Schmidt, Robert J. |d 1990- |e VerfasserIn |0 (DE-588)1175470619 |0 (DE-627)1046442384 |0 (DE-576)516234722 |4 aut | |
| 700 | 1 | |a Trautmann, Stefan T. |e VerfasserIn |0 (DE-588)136216633 |0 (DE-627)577224271 |0 (DE-576)300901135 |4 aut | |
| 700 | 1 | |a Theurich, Franziska |d 1987- |e VerfasserIn |0 (DE-588)1112964819 |0 (DE-627)867008253 |0 (DE-576)476804329 |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Journal of economic behavior & organization |d Amsterdam [u.a.] : Elsevier, 1980 |g 233(2025), Artikel-ID 106988, Seite 1-14 |h Online-Ressource |w (DE-627)253781825 |w (DE-600)1460618-5 |w (DE-576)072794445 |x 1879-1751 |7 nnas |a First-order and higher-order inflation expectations evidence about households and firms |
| 773 | 1 | 8 | |g volume:233 |g year:2025 |g elocationid:106988 |g pages:1-14 |g extent:14 |a First-order and higher-order inflation expectations evidence about households and firms |
| 856 | 4 | 0 | |u https://www.sciencedirect.com/science/article/pii/S0167268125001088/pdfft?md5=5451d75d8b74d3d80d61a938704ee235&pid=1-s2.0-S0167268125001088-main.pdf |q application/pdf |x Verlag |z kostenfrei |
| 856 | 4 | 0 | |u https://doi.org/10.1016/j.jebo.2025.106988 |x Resolving-System |z kostenfrei |3 Volltext |
| 856 | 4 | 0 | |u https://www.sciencedirect.com/science/article/pii/S0167268125001088 |x Verlag |z kostenfrei |3 Volltext |
| 951 | |a AR | ||
| 992 | |a 20250604 | ||
| 993 | |a Article | ||
| 994 | |a 2025 | ||
| 998 | |g 136216633 |a Trautmann, Stefan T. |m 136216633:Trautmann, Stefan T. |d 180000 |d 181000 |e 180000PT136216633 |e 181000PT136216633 |k 0/180000/ |k 1/180000/181000/ |p 4 | ||
| 998 | |g 1222302969 |a Kieren, Pascal |m 1222302969:Kieren, Pascal |d 180000 |d 181000 |e 180000PK1222302969 |e 181000PK1222302969 |k 0/180000/ |k 1/180000/181000/ |p 1 |x j | ||
| 999 | |a KXP-PPN1927420938 |e 4730882164 | ||
| BIB | |a Y | ||
| SER | |a journal | ||
| JSO | |a {"origin":[{"dateIssuedKey":"2025","dateIssuedDisp":"2025"}],"physDesc":[{"extent":"14 S.","noteIll":"Illustrationen"}],"relHost":[{"id":{"zdb":["1460618-5"],"eki":["253781825"],"issn":["1879-1751","0167-2681"]},"recId":"253781825","pubHistory":["1.1980 -"],"origin":[{"publisher":"Elsevier ; North-Holland Publ. Co.","dateIssuedDisp":"1980-","publisherPlace":"Amsterdam [u.a.] ; Amsterdam","dateIssuedKey":"1980"}],"type":{"bibl":"periodical","media":"Online-Ressource"},"physDesc":[{"extent":"Online-Ressource"}],"part":{"year":"2025","pages":"1-14","volume":"233","text":"233(2025), Artikel-ID 106988, Seite 1-14","extent":"14"},"note":["Gesehen am 03.01.11"],"language":["eng"],"disp":"First-order and higher-order inflation expectations evidence about households and firmsJournal of economic behavior & organization","title":[{"title_sort":"Journal of economic behavior & organization","title":"Journal of economic behavior & organization"}]}],"note":["Online verfügbar: 29. März 2025, Artikelversion: 29. März 2025","Gesehen am 04.06.2025"],"language":["eng"],"id":{"eki":["1927420938"],"doi":["10.1016/j.jebo.2025.106988"]},"recId":"1927420938","name":{"displayForm":["Pascal Kieren, Christian König-Kersting, Robert Schmidt, Stefan Trautmann, Franziska Heinicke"]},"type":{"media":"Online-Ressource","bibl":"article-journal"},"person":[{"role":"aut","given":"Pascal","roleDisplay":"VerfasserIn","display":"Kieren, Pascal","family":"Kieren"},{"family":"König-Kersting","given":"Christian","roleDisplay":"VerfasserIn","display":"König-Kersting, Christian","role":"aut"},{"given":"Robert J.","roleDisplay":"VerfasserIn","display":"Schmidt, Robert J.","family":"Schmidt","role":"aut"},{"family":"Trautmann","display":"Trautmann, Stefan T.","roleDisplay":"VerfasserIn","given":"Stefan T.","role":"aut"},{"role":"aut","roleDisplay":"VerfasserIn","given":"Franziska","display":"Theurich, Franziska","family":"Theurich"}],"title":[{"subtitle":"evidence about households and firms","title":"First-order and higher-order inflation expectations","title_sort":"First-order and higher-order inflation expectations"}]} | ||
| SRT | |a KIERENPASCFIRSTORDER2025 | ||