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ホリ マサヒロ
HORI Masahiro
堀 雅博 所属 東京経済大学 経済学部 職種 教授 |
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| 言語種別 | 英語 |
| 発行・発表の年月 | 2023/10 |
| 形態種別 | 研究論文（学術雑誌） |
| 査読 | 査読あり |
| 標題 | "Inflation expectations and household expenditure: Evidence from pseudo-panel data in Japan" |
| 執筆形態 | 共著 |
| 掲載誌名 | Journal of Economic Behavior and Organization |
| 掲載区分 | 国外 |
| 出版社・発行元 | Elsevier BV |
| 巻・号・頁 | 214,pp.308-324 |
| 著者・共著者 | Takeshi Niizeki |
| 概要 | This paper examines to what extent a rise in inflation expectations stimulates current household expenditure in Japan. Using matched household datasets, we find the following. First, to the extent that the rise in inflation expectations is from about 0% to the 2−10% range, durable goods expenditure is significantly stimulated. Second, total expenditure increases by 1.0% in response to a one percentage point rise in inflation expectations, about 82% of which is explained by the response of durable goods expenditure. Third, storable and non-storable non-durable goods expenditures (especially the latter) do not respond significantly to the inflation expectations. Finally, a temporary rise in inflation expectations immediately stimulates total expenditure, but produces a similar degree of decline over a few quarters, with virtually no long-run impact. |