Fall 2015 Brookings Panel on Economic Activity Weblogging: Inflation Expectations in New Zealand

Fall 2015 BPEA Th 4:30 PM: Kumar et al.: Am I right in reading this paper as saying not only that inflation expectations are not forward-looking, but that–at least when inflation is less than 5%/year–they are not especially backward-looking either? That inflation expectations, at least below some threshold are just not a thing that can be usefully modeled as affected by other macroeconomic variables?