Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/279032 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 16334
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
This study analyzes how firms form their inflation expectations during a regime change in monetary policy and a transition to a low-inflation environment. Using the Bank of Israel survey of firms, we document the basic properties of firms' inflation expectations and examine how Israeli firms update their inflation expectations after receiving new information about inflation or monetary policy. We find that even after successful de-dollarization and disinflation a positive inflation surprise leads to a sizable upward adjustment in inflation expectations for the next year and quarter. A surprise hike in the monetary interest rate leads to a downward adjustment in inflation expectations.
Schlagwörter: 
monetary policy
surveys
firms
inflation expectations
JEL: 
D22
E31
E52
Dokumentart: 
Working Paper

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