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横浜市立大学大学院国際マネジメント研究科

一橋大学社会科学高等研究院 社会科学高等研究院 特任講師

横浜市立大学大学院国際マネジメント研究科 教授
東北大学経済学研究科 客員教授

This study employs randomized control trial methods to explore how information selection and processing contribute to the heterogeneity in consumers’ inflation expectations. We find that, first, respondents vary in their preferences for inflation forecasts from established institutions. Second, providing credible information about future inflation helps stabilize expectations, with follow-up surveys indicating that this effect persists for at least one month. Third, respondents revise their expectations more extensively when provided with additional information. Fourth, respondents incorporate information more fully when they can choose the information they view. Individuals with exposure to interest rate risk are more likely to focus on relevant signals.