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Keywords:Livingston Survey 

Working Paper
Self-fulfilling expectations and the inflation of the 1970s: evidence from the Livingston Survey

Using survey data on expectations, the authors examine whether the post-war data are consistent with theories of a self-fulfilling inflation episode during the 1970s. Among commonly cited factors, oil and fiscal shocks do not appear to have triggered an increase in expected inflation that was subsequently validated by monetary policy. However, the evidence suggests that, prior to 1979, the Fed accommodated temporary shocks to expected inflation, which then led to permanent increases in actual inflation. The authors do not find this behavior in the post-1979 data.
Working Papers , Paper 02-13

Journal Article
The Livingston Survey: still useful after all these years

The decisions of households, firms, and government agencies depend on forecasts of the overall economy. Large firms and the federal government often have the resources to hire their own economists to provide forecasts. But households, small firms, and local governments often depend on surveys of forecasters to get their information. In this article, Dean Croushore spotlights the Livingston Survey, which, even after 50 years, still provides useful forecasts of the economy.
Business Review , Issue Mar , Pages 15-27

Journal Article
The Livingston Surveys: a history of hopes and fears

Business Review , Issue Jan , Pages 15-27

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