Nonresponse Bias in Household Inflation Expectations Surveys

Publication | December 2023
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This work shows that some demographic groups end up underrepresented in household inflation expectations surveys due to item nonresponse.

Nonresponses can lead to misleading inferences about inflation bias, and this paper shows how to correct for such nonresponse bias in average inflation expectations. These findings have important implications for how central banks use household inflation expectations measures, and how policymakers communicate with the population. One main implication is that policy outreach can be improved with more targeted communications.

Contents

  • Introduction
  • Data
  • Determinants of Responses to the Inflation Question
  • Inflation Expectations Bias
  • Adjusted Indices
  • Concluding Remarks
  • Appendix

Additional Details

Authors
Type
Series
Subjects
  • Economics
Pages
  • 46
Dimensions
  • 8.5 x 11
SKU
  • WPS230552-2
ISSN
  • 2313-6537 (print)
  • 2313-6545 (electronic)

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