Expectations of Inflation: The Role of Demographic Variables, Expectation Formation, and Financial Literacy
When financial decisions have consequences beyond the immediate future, individuals' economic success may depend on their ability to forecast the rate of inflation. Higher inflation expectations have been reported by individuals who are female, poorer, single and less educated. Our results sugg...
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| Veröffentlicht in: | The Journal of consumer affairs 2010-06, Vol.44 (2), p.381-402 |
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| container_title | The Journal of consumer affairs |
| container_volume | 44 |
| creator | BRUINEdeBRUIN, WÄNDI VANDERKLAAUW, WILBERT DOWNS, JULIE S FISCHHOFF, BARUCH TOPA, GIORGIO ARMANTIER, OLIVIER |
| description | When financial decisions have consequences beyond the immediate future, individuals' economic success may depend on their ability to forecast the rate of inflation. Higher inflation expectations have been reported by individuals who are female, poorer, single and less educated. Our results suggest that these demographic differences in inflation expectations may be partially explained by variations in expectation formation and financial literacy. Specifically, higher inflation expectations were reported by individuals who focused more on how to cover their future expenses and on prices they pay (rather than on the US inflation rate) and by individuals with lower financial literacy. |
| doi_str_mv | 10.1111/j.1745-6606.2010.01174.x |
| format | Article |
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Higher inflation expectations have been reported by individuals who are female, poorer, single and less educated. Our results suggest that these demographic differences in inflation expectations may be partially explained by variations in expectation formation and financial literacy. Specifically, higher inflation expectations were reported by individuals who focused more on how to cover their future expenses and on prices they pay (rather than on the US inflation rate) and by individuals with lower financial literacy.</description><subject>Analysis</subject><subject>Consumer protection</subject><subject>Consumer psychology</subject><subject>Consumer surveys</subject><subject>Demographic aspects</subject><subject>Demographics</subject><subject>Demography</subject><subject>Disease risk</subject><subject>Economic expectations</subject><subject>Economic forecasting</subject><subject>Economic inflation</subject><subject>Education</subject><subject>Financial literacy</subject><subject>Financial planning</subject><subject>Forecasts and trends</subject><subject>Inflation</subject><subject>Inflation (Economics)</subject><subject>Inflation (Finance)</subject><subject>Inflation rates</subject><subject>Literacy</subject><subject>Market trend/market analysis</subject><subject>Numeracy</subject><subject>Personal finance</subject><subject>Rational expectations</subject><subject>Social aspects</subject><subject>Studies</subject><subject>United States</subject><issn>0022-0078</issn><issn>1745-6606</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2010</creationdate><recordtype>article</recordtype><sourceid>N95</sourceid><sourceid>7TQ</sourceid><recordid>eNqNkl1v0zAUhiMEEmXwExARXCCktjhO4g8ukKqydkXdKm0dXB45rpO5S-Nip6L99zjNVFZUoSVSYp_zvMc-9hsEYYT6kX8-L_sRTdIeIYj0MfJRFPlAf_ss6BwSz4MOQhj3EKLsZfDKuSVCEUYUdYL78-1ayVrU2lQuNHk4qfJyP_sSzu9UeG1K1YS_qZUprFjfaRn-EFaLrFSuGz5ShyNjV_tRNxTVIhzpSlRSizKc6lpZIXevgxe5KJ168_A_C25H5_PhRW86G0-Gg2lPMpYkPR6RJMt8G5zHDGVxnlCyoJxJlJGYSxEpyvACZSxeMCGkT0eIRAQTQhRjaR6fBR_bumtrfm2Uq2GlnVRlKSplNg5ognmKEcGefP8PuTQbW_nNQYpISjAnxEMfWqgQpQJd5ab23TQlYYAxZ5wklHmqd4IqVOVbL02lcu3DR3z_BO_fhVppeVLw6UjgmVpt60JsnIPJzdWTWTae_m_jD6w0ZakKBf5mhrNjvvuIzzZOV8r5j9PFXe3aJY5w1uLSGuesymFt9UrYHUQIGgfDEhqjQmNUaBwMewfD1ku_ttLf_ih2T9bB99lw0Ax9gbdtgaWrjT0UwDFLOeX0b-va-ZYPeWHvgdCYpvDzagzsMrkk16M5XHj-XcvnwoAorHZwe-OXjlHEEk5xHP8BEvkSkQ</recordid><startdate>20100622</startdate><enddate>20100622</enddate><creator>BRUINEdeBRUIN, WÄNDI</creator><creator>VANDERKLAAUW, WILBERT</creator><creator>DOWNS, JULIE S</creator><creator>FISCHHOFF, BARUCH</creator><creator>TOPA, GIORGIO</creator><creator>ARMANTIER, OLIVIER</creator><general>Oxford, UK : Blackwell Publishing Ltd</general><general>Blackwell Publishing Ltd</general><general>Wiley-Blackwell</general><general>Blackwell Publishers Ltd</general><scope>FBQ</scope><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>N95</scope><scope>XI7</scope><scope>8GL</scope><scope>ISN</scope><scope>7TQ</scope><scope>DHY</scope><scope>DON</scope></search><sort><creationdate>20100622</creationdate><title>Expectations of Inflation: The Role of Demographic Variables, Expectation Formation, and Financial Literacy</title><author>BRUINEdeBRUIN, WÄNDI ; 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| ispartof | The Journal of consumer affairs, 2010-06, Vol.44 (2), p.381-402 |
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| source | PAIS Index; EBSCOhost Business Source Complete; Access via Wiley Online Library; JSTOR Archive Collection A-Z Listing |
| subjects | Analysis Consumer protection Consumer psychology Consumer surveys Demographic aspects Demographics Demography Disease risk Economic expectations Economic forecasting Economic inflation Education Financial literacy Financial planning Forecasts and trends Inflation Inflation (Economics) Inflation (Finance) Inflation rates Literacy Market trend/market analysis Numeracy Personal finance Rational expectations Social aspects Studies United States |
| title | Expectations of Inflation: The Role of Demographic Variables, Expectation Formation, and Financial Literacy |
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