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Monetary Policy Actions, Macroeconomic Data Releases, and Inflation Expectations (ICPSR 1301) RSS

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Summary:

This article analyzes how announced surprises in monetary policy actions and macroeconomic data releases affect the average rate of inflation that economic agents expect to prevail over the 10-year period following the surprise. The analysis also addresses the effect of Federal Reserve communication and surprises in monetary policy actions on perceived inflation risk over this 10-year period. The study shows that surprises in macroeconomic data releases and monetary policy actions indeed affect the expected rate of inflation. Further, there is evidence that surprises in monetary policy actions increase perceived inflation risk, whereas Federal Reserve communication reduces it.

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  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • These data are freely available.

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Study Description

Citation

Kliesen, Kevin L., and Frank A. Schmid. Monetary Policy Actions, Macroeconomic Data Releases, and Inflation Expectations. ICPSR01301-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2004-08-12. http://doi.org/10.3886/ICPSR01301.v1

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Scope of Study

Subject Terms:   inflation, inflation rates, monetary policy

Geographic Coverage:   United States

Data Collection Notes:

Files submitted include the data file 0405kkd.txt and the program file 0405kkp.prg. These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

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