- Sep. 13, 2019
- Sep. 6, 2019
- Aug. 30, 2019
Home > Research and Studies > Bank of Japan Working Paper Series, Review Series, and Research Laboratory Series > Bank of Japan Working Paper Series 2018 > (Research Paper) New Facts about Firms' Inflation Expectations: Short- versus Long-Term Inflation Expectations
October 29, 2018
In this paper, using large-scale firm-level micro-data from the Tankan survey we examine firms' inflation expectations at different time horizons. Our principle findings are twofold. First, with regard to long-term expectations, a number of firms offer no forecasts. Second, and more importantly, the frequency of forecast revisions is higher for longer time horizons.
long-term inflation expectations, frequency of forecast revisions
We thank Ryohei Hisano, Kosuke Aoki, Masahiro Hori, Shigehiro Kuwabara, Toshitaka Sekine, Koji Nakamura, Hibiki Ichiue, Sohei Kaihatsu, Satoshi Ito, Koki Inamura, Ichiro Muto, Toshinao Yoshiba, Takushi Kurozumi, and Ryo Kato for useful comments. All remaining errors are ours. This paper does not necessarily reflect the views of the Bank of Japan.
Papers in the Bank of Japan Working Paper Series are circulated in order to stimulate discussion and comments. Views expressed are those of authors and do not necessarily reflect those of the Bank.
If you have any comment or question on the working paper series, please contact each author. When making a copy or reproduction of the content for commercial purposes, please contact the Public Relations Department (firstname.lastname@example.org) at the Bank in advance to request permission. When making a copy or reproduction, the source, Bank of Japan Working Paper Series, should explicitly be credited.