Read Anywhere and on Any Device!

Subscribe to Read | $0.00

Join today and start reading your favorite books for Free!

Create Free Account

Quick and Easy Sign Up!

It takes less then 1 minute to sign up, then you can enjoy Unlimited eBooks.

Sign Up Browse

Popular Genres

Read Anywhere and on Any Device!

  • Download on iOS
  • Download on Android
  • Download on iOS

International Finance Discussion Papers: Long Memory in Inflation Expectations: Evidence from International Financial Markets

International Finance Discussion Papers: Long Memory in Inflation Expectations: Evidence from International Financial Markets

Joseph E. Gagnon
0/5 ( ratings)
Read Download
This study provides evidence that 10-year-ahead inflation expectations adapt very slowly to changes in realized inflation. This evidence derives primarily from yields on 10-year government bonds in a sample of OECD countries, including inflation-indexed bonds where they are available. The study examines both the cross-country and time-series behavior of interest rates and inflation rates. For the United States, additional evidence is provided from a survey of 10-year inflation expectations held by market participants. This study does not present a theoretical model of expectations formation. However, long memory of the type documented in this study would be implied by a model of multiple inflationary regimes in which agents base their probability distributions of future regimes on past inflationary experience.
Language
English
Pages
30
Format
Paperback
Release
February 08, 2013
ISBN 13
9781288734597

International Finance Discussion Papers: Long Memory in Inflation Expectations: Evidence from International Financial Markets

Joseph E. Gagnon
0/5 ( ratings)
Read Download
This study provides evidence that 10-year-ahead inflation expectations adapt very slowly to changes in realized inflation. This evidence derives primarily from yields on 10-year government bonds in a sample of OECD countries, including inflation-indexed bonds where they are available. The study examines both the cross-country and time-series behavior of interest rates and inflation rates. For the United States, additional evidence is provided from a survey of 10-year inflation expectations held by market participants. This study does not present a theoretical model of expectations formation. However, long memory of the type documented in this study would be implied by a model of multiple inflationary regimes in which agents base their probability distributions of future regimes on past inflationary experience.
Language
English
Pages
30
Format
Paperback
Release
February 08, 2013
ISBN 13
9781288734597

More books from Joseph E. Gagnon

Flexible Exchange Rates for a Stable World Economy

4.5/5 ( ratings)

The Global Outlook for Government Debt Over the Next 25 Years: Implications for the Economy and Public Policy

3/5 ( ratings)

China's New Economic Frontier: Overcoming Obstacles to Continued Growth

3/5 ( ratings)

International Finance Discussion Papers: Inflation Regimes and Inflation Expectations

3/5 ( ratings)

Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

3/5 ( ratings)

Rate this book!

Write a review?

loader