"Diagreement about Inflation and the Yield Curve" presented by Philipp Illeditsch, Wharton, University of Pennsylvania
This event is part of the Finance Seminar Series series.
Location:
Gerri C. LeBow Hall722
3220 Market Street
Philadelphia, PA 19104
Registration Option:
The paper shows that inflation disagreement, not just expected inflation, has a first-order effect on nominal interest rates. Expected inflation, mainly affects the wedge between real and norminal yields, inflation disagreement affects norminal yields predoninantly through its impact on the real side of the economy.