Uncertainty about inflationary perceptions and expectations

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Uncertainty about inflationary perceptions and expectations. / Jonung, Lars.

In: Journal of Economic Psychology, Vol. 7, No. 3, 09.1986, p. 315-325.

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TY - JOUR

T1 - Uncertainty about inflationary perceptions and expectations

AU - Jonung, Lars

N1 - Cited By :9 Export Date: 22 February 2017

PY - 1986/9

Y1 - 1986/9

N2 - This article reports the result of a survey designed to investigate the degree of uncertainty by which a representative sample of Swedish households hold their perceptions and expectations of inflation. The public displays hardly any uncertainty concerning the direction of change of the price level as measured by the ratio of ‘don't know’ answers. However, when asked for numerical estimates of the perceived and expected rate of inflation, uncertainty increases considerably. The ratio of ‘don't know’ answers is now about 45 per cent. Respondents giving numerical measures were asked to rank how certain they felt about their answers. The majority of them felt they were ‘rather certain’. A major difference in certainty was found between men and women. No major differences existed across age, place of living and education. The major conclusion of this study is that the public does not hold its inflationary perceptions and expectations with complete certainty as commonly assumed.

AB - This article reports the result of a survey designed to investigate the degree of uncertainty by which a representative sample of Swedish households hold their perceptions and expectations of inflation. The public displays hardly any uncertainty concerning the direction of change of the price level as measured by the ratio of ‘don't know’ answers. However, when asked for numerical estimates of the perceived and expected rate of inflation, uncertainty increases considerably. The ratio of ‘don't know’ answers is now about 45 per cent. Respondents giving numerical measures were asked to rank how certain they felt about their answers. The majority of them felt they were ‘rather certain’. A major difference in certainty was found between men and women. No major differences existed across age, place of living and education. The major conclusion of this study is that the public does not hold its inflationary perceptions and expectations with complete certainty as commonly assumed.

U2 - 10.1016/0167-4870(86)90023-1

DO - 10.1016/0167-4870(86)90023-1

M3 - Article

VL - 7

SP - 315

EP - 325

JO - Journal of Economic Psychology

JF - Journal of Economic Psychology

SN - 1872-7719

IS - 3

ER -