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Please use this identifier to cite or link to this item: http://hdl.handle.net/2262/58798

Title: The misperception of inflation by Irish consumers
Author: Duffy, David
Lunn, Peter D.
Keywords: Inflation
Consumer behaviour
Ireland
Issue Date: 2009
Publisher: Economic & Social Research Institute
Citation: Duffy, David; Lunn, Peter D. 'The misperception of inflation by Irish consumers'. - Economic & Social Review, Vol. 40, no. 2, Summer, 2009, pp. 139–163, Dublin: Economic & Social Research Institute
Abstract: Perceptions and forecasts of inflation have the potential to impact on a range of economic outcomes. We reveal large, systematic overestimation of inflation by Irish consumers, which varies by social group. In contrast to previous work in this area, our models suggest the upward bias and the variation by social group should be considered substantially separate phenomena. We also offer evidence that inflation misperceptions are linked to attitudes and intentions with respect to consumption and saving and, hence, are likely to affect household decision-making. The findings therefore raise issues regarding the relationship between financial literacy and consumer behaviour.
URI: http://hdl.handle.net/2262/58798
ISSN: 00129984
JEL D12
Appears in Collections:The Economic and Social Review, Vol. 40, No. 2, Summer, 2009
Economic and Social Review Archive: Complete Collection 1969-

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