Inattention in individual expectations

Detalhes bibliográficos
Autor(a) principal: Cordeiro, Yara de Almeida Campos
Data de Publicação: 2016
Outros Autores: Gaglianone, Wagner Piazza, Issler, João Victor
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/16521
Resumo: This paper investigates the expectations formation process of economic agents about infl ation rate. Using the Market Expectations System of Central Bank of Brazil, we perceive that agents do not update their forecasts every period and that even agents who update disagree in their predictions. We then focus on the two most popular types of inattention models that have been discussed in the recent literature: sticky-information and noisy-information models. Estimating a hybrid model we fi nd that, although formally fi tting the Brazilian data, it happens at the cost of a much higher degree of information rigidity than observed.
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spelling Cordeiro, Yara de Almeida CamposGaglianone, Wagner PiazzaIssler, João VictorEscolas::EPGEFGV2016-05-12T18:30:39Z2016-05-12T18:30:39Z20160104-8910http://hdl.handle.net/10438/16521This paper investigates the expectations formation process of economic agents about infl ation rate. Using the Market Expectations System of Central Bank of Brazil, we perceive that agents do not update their forecasts every period and that even agents who update disagree in their predictions. We then focus on the two most popular types of inattention models that have been discussed in the recent literature: sticky-information and noisy-information models. Estimating a hybrid model we fi nd that, although formally fi tting the Brazilian data, it happens at the cost of a much higher degree of information rigidity than observed.engFundação Getulio Vargas. 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dc.title.eng.fl_str_mv Inattention in individual expectations
title Inattention in individual expectations
spellingShingle Inattention in individual expectations
Cordeiro, Yara de Almeida Campos
Expectations
Imperfect information
Inflation
Rational inattention
Economia
Teoria dos jogos
Teoria da informação em economia
title_short Inattention in individual expectations
title_full Inattention in individual expectations
title_fullStr Inattention in individual expectations
title_full_unstemmed Inattention in individual expectations
title_sort Inattention in individual expectations
author Cordeiro, Yara de Almeida Campos
author_facet Cordeiro, Yara de Almeida Campos
Gaglianone, Wagner Piazza
Issler, João Victor
author_role author
author2 Gaglianone, Wagner Piazza
Issler, João Victor
author2_role author
author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Cordeiro, Yara de Almeida Campos
Gaglianone, Wagner Piazza
Issler, João Victor
dc.subject.por.fl_str_mv Expectations
Imperfect information
Inflation
Rational inattention
topic Expectations
Imperfect information
Inflation
Rational inattention
Economia
Teoria dos jogos
Teoria da informação em economia
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Teoria dos jogos
Teoria da informação em economia
description This paper investigates the expectations formation process of economic agents about infl ation rate. Using the Market Expectations System of Central Bank of Brazil, we perceive that agents do not update their forecasts every period and that even agents who update disagree in their predictions. We then focus on the two most popular types of inattention models that have been discussed in the recent literature: sticky-information and noisy-information models. Estimating a hybrid model we fi nd that, although formally fi tting the Brazilian data, it happens at the cost of a much higher degree of information rigidity than observed.
publishDate 2016
dc.date.accessioned.fl_str_mv 2016-05-12T18:30:39Z
dc.date.available.fl_str_mv 2016-05-12T18:30:39Z
dc.date.issued.fl_str_mv 2016
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/16521
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/16521
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;776
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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