Information-Induced Heteroscedasticity in Price Expectations Data
检验了价格预期因个体获取不同通胀信息而异的假设，利用月度家庭调查数据支持了差异信息模型，并开发了将“不知道”回答纳入价格预期估计的新方法。
This study tests the hypothesis that price expectations differ across individuals because they acquire different information about inflation. If price information is a normal good, then the amount of price information acquired will vary across individuals according to income, education, and other demand-specific variables, causing price expectations to be heteroscedastic with respect to these variables. Utilizing monthly household survey data, the authors test the heteroscedasticity hypothesis and find support for the differential information model. In addition, they develop a novel method of incorporating the don't know response to questions about inflation into the estimation of price expectations. Copyright 1990 by MIT Press.