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- W3111849043 abstract "This paper examines the don't responses for questions concerning inflation expectations in the Tankan survey. Specifically, using machine learning techniques, we attempt to extract don't responses where respondent firms are more likely to know in a sense. We then estimate the counterfactual inflation expectations of such respondents and examine the non-response bias based on the estimation results. Our findings can be summarized as follows. First, there is indeed a fraction of firms that respond don't despite the fact that they seem to know something in a sense. Second, the number of such firms, however, is quite small. Third, the estimated counterfactual inflation expectations of such firms are not statistically significantly different from the corresponding official figures in the Tankan survey. Fourth and last, based on the above findings, the non-response bias in firms' inflation expectations likely is statistically negligible." @default.
- W3111849043 created "2020-12-21" @default.
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- W3111849043 date "2019-01-01" @default.
- W3111849043 modified "2023-09-27" @default.
- W3111849043 title "Don't know Tells: Calculating Non-Response Bias in Firms' Inflation Expectations Using Machine Learning Techniques" @default.
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