An Alternative to the Carlson-Parkin Method for the Quantification of Qualitative Inflation Expectations: Evidence from the Ifo World Economic Survey

Research, Preprint English OPEN
Steffen Henzel; Timo Wollmershäuser;
  • Publisher: Ifo Institute - Leibniz Institute for Economic Research at the University of Munich Munich
  • Subject: C42 | D84 | E31 | survey data | Inflation expectations, survey data, quantification methods. | quantification methods | Inflation expectations
    • jel: jel:E31 | jel:C42 | jel:D84
      ddc: ddc:330

This paper presents a new methodology for the quantification of qualitative survey data. Traditional conversion methods, such as the probability approach of Carlson and Parkin (1975) or the time-varying parameters model of Seitz (1988), require very restrictive assumpti... View more
  • References (9)

    Adam, K., and M. Padula (2003): “Inflation Dynamics and Subjective Expectations in the United States,” ECB Working Paper No. 222.

    Batchelor, R. (1986): “The Psychophysics of Inflation,” Journal of Economic Psychology, 7, 269-290.

    Batchelor, R. A., and A. B. Orr (1988): “Inflation Expectations Revisited,” Economica, 55(219), 317-331.

    Berk, J. M. (1999): “Measuring Inflation Expectations: A Survey Data Approach,” Applied Economics, 31(11), 1467-1480.

    Berk, J. M. (2000): “Consumers' Inflation Expectations and Monetary Policy in Europe,” DNB Staff Reports No. 55.

    Carlson, J., and M. Parkin (1975): “Inflation Expectations,” Economica, 42(166), 123-138.

    Fechner, G. T. (1889): Elemente der Psychophysik, vol. 1. Leipzig: Druck und Verlag von Breitkopf und H¨artel.

    Fishe, R. P., and K. Lahiri (1981): “On the Estimation of Inflationary Expectations from Qualitative Responses,” Journal of Econometrics, 16(16), 89-102.

    Seitz, H. (1988): “The Estimation of Inflation Forecasts from Business Survey Data,” Applied Economics, 20(4), 427-438.

  • Metrics
Share - Bookmark