Nominal Interest Rates as Indicators of Inflation Expectations
评估了名义利率作为通胀预期指标的无偏性和精确性，使用多种方法分析英美数据，发现利率水平能较好反映通胀预期水平，但利率变化对预期变化指示性差。
The properties of nominal interest rates as indicators of inflation expectations are evaluated. Are they unbiased? How precise are they? To arrive at robust results, a range of different methods are applied on several US and UK data sets. The results show that the interest rate level is a reasonably good indicator of the level of inflation expectations. However, changes in interest rates are poor indicators of changes inflation expectations.