Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/279314 
Year of Publication: 
2023
Series/Report no.: 
CESifo Working Paper No. 10564
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
An experiment using a representative survey of the German population shows that letting respondents report a number rather than asking them to choose from a list of predefined ranges lowers the response rate for both perceived past and expected inflation and decreases (increases) reported past (expected) inflation. Income, education, gender, objective and subjective knowledge about monetary policy, and political affiliation affect the effect's size but not its sign. East and West German respondents who were 15 or older when the Berlin Wall fell have reactions different from those who were younger at that time, which supports the 'impressionable years' hypothesis based on different inflation experiences.
Subjects: 
inflation perception
inflation expectation
survey question design
Germany
household survey
impressionable years hypothesis
JEL: 
E52
E58
Z10
Document Type: 
Working Paper
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