Inattention in individual expectations

Detalhes bibliográficos
Autor(a) principal: Cordeiro, Yara de Almeida Campos
Data de Publicação: 2015
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: https://hdl.handle.net/10438/13783
Resumo: This paper investigates the expectations formation process of economic agents about inflation 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 find that, although formally fitting 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 CamposEscolas::EPGEFGVBerriel, Cecília MachadoBonomo, Marco Antônio CesarIssler, João Victor2015-06-12T18:08:24Z2015-06-12T18:08:24Z2015-04CORDEIRO, Yara de Almeida Campos. Inattention in individual expectations. Dissertação (Mestrado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2015.https://hdl.handle.net/10438/13783This paper investigates the expectations formation process of economic agents about inflation 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 find that, although formally fitting the Brazilian data, it happens at the cost of a much higher degree of information rigidity than observed.engExpectationsInflationImperfect informationRational inattentionEconomiaExpectativas racionais (Teoria econômica)InflaçãoPrevisão econômicaModelos macroeconômicosInattention in individual expectationsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVFGV EPGE - Dissertações, Mestrado em EconomiaProjetos de Pesquisa AplicadaORIGINALPDFPDFapplication/pdf649363https://repositorio.fgv.br/bitstreams/ec526ee3-136f-42ea-a9dc-ac2960333438/download3edcafbc40c828ea9dfa7b5ecbf4892bMD51LICENSElicense.txtlicense.txttext/plain; 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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
Inflation
Imperfect information
Rational inattention
Economia
Expectativas racionais (Teoria econômica)
Inflação
Previsão econômica
Modelos macroeconômicos
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
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.member.none.fl_str_mv Berriel, Cecília Machado
Bonomo, Marco Antônio Cesar
dc.contributor.author.fl_str_mv Cordeiro, Yara de Almeida Campos
dc.contributor.advisor1.fl_str_mv Issler, João Victor
contributor_str_mv Issler, João Victor
dc.subject.por.fl_str_mv Expectations
Inflation
Imperfect information
Rational inattention
topic Expectations
Inflation
Imperfect information
Rational inattention
Economia
Expectativas racionais (Teoria econômica)
Inflação
Previsão econômica
Modelos macroeconômicos
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Expectativas racionais (Teoria econômica)
Inflação
Previsão econômica
Modelos macroeconômicos
description This paper investigates the expectations formation process of economic agents about inflation 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 find that, although formally fitting the Brazilian data, it happens at the cost of a much higher degree of information rigidity than observed.
publishDate 2015
dc.date.accessioned.fl_str_mv 2015-06-12T18:08:24Z
dc.date.available.fl_str_mv 2015-06-12T18:08:24Z
dc.date.issued.fl_str_mv 2015-04
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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status_str publishedVersion
dc.identifier.citation.fl_str_mv CORDEIRO, Yara de Almeida Campos. Inattention in individual expectations. Dissertação (Mestrado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2015.
dc.identifier.uri.fl_str_mv https://hdl.handle.net/10438/13783
identifier_str_mv CORDEIRO, Yara de Almeida Campos. Inattention in individual expectations. Dissertação (Mestrado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2015.
url https://hdl.handle.net/10438/13783
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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