Inflation Expectations: Determinants and Consequences

This conference seeks to advance research on the methods to elicit and measure inflation expectations of households and firms, their determinants, and how firms and households use their inflation expectations when making consumption, savings, leverage, labor supply, wage bargaining, investment, price setting, and hiring decisions, among others.  Inflation expectations are central to intertemporal consumption, saving, and investment choices and shape the effectiveness of fiscal and monetary policy.  The recent surge in realized inflation in the United States and other developed economies raises new questions about the anchoring of inflation expectations and the consequences of shifting expectations for economic activity.