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PRODID:-//AMSE//Event Calendar//FR
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BEGIN:VEVENT
UID:event-12570@www.amse-aixmarseille.fr
DTSTAMP:20260421T122136Z
CREATED:20260421T122136Z
LAST-MODIFIED:20260421T122136Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:French-Japanese webinar - Weiyang Zhai
DTSTART:20251010T090000Z
DTEND:20251010T100000Z
DESCRIPTION:Inflation expectations are one of the most essential components
  of monetary policy decisions. Upon examining Japanese inflation expectatio
 ns between 1991:Q4 and 2025:Q1\, we propose a modified empirical model that
  includes a forecast trend term in addition to the forecast revision term. 
 The forecast trend term affects the forecast errors. In addition\, we find 
 evidence that consumption tax hikes affected the forecast errors\, partly d
 ue to the uncertainty of actual implementation in the future. The full samp
 le results indicate that people in Japan form non-rational expectations wit
 h information rigidity. However\, this holds only in the recent episode of 
 inflation following the post-COVID period. During the zero-inflation period
 s\, people formed rational expectations without information rigidity\, but 
 with the possibility of deviating from rational expectations.\\n\\nContact:
  Gilles Dufrénot : gilles.dufrenot[at]sciencespo-aix.frKiyotaka Sato : sat
 o[at]ynu.ac.jp\n\nPlus d'informations: https://www.amse-aixmarseille.fr/fr/
 evenements/weiyang-zhai
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/weiyang-zhai
CONTACT:Gilles Dufrénot : gilles.dufrenot[at]sciencespo-aix.frKiyotaka Sat
 o : sato[at]ynu.ac.jp
TRANSP:OPAQUE
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