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A review of inflation expectations and perceptions research in the past four decades: a bibliometric analysis

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Abstract

The present study contributes to our understanding of inflation expectations and perceptions by reviewing studies on this research topic published between 1982 and 2021. This study uses qualitative and quantitative approaches to perform a meta-literature review. In total, 514 articles are analyzed by performing a bibliometric analysis by using HistCite and VOSviewer software. This study highlights some significant aspects of the literature, such as countries, journals, authors, and articles. This study also performs the network mapping analysis through bibliometric co-citation and cartography to determine the major research clusters emerging from the literature. In addition, the content of the most influential 61 cited articles from Web of Science and Scopus is analyzed. We identify five research strands through co-citation and content analysis: (i) the new Keynesian Phillips curve and heterogeneous inflation expectations and perceptions, (ii) surveys and information rigidity, (iii) monetary policy and central banks, (iv) forecasting, and (v) Euro currency changeover. Finally, after a thorough review and analysis, we suggest eight future research questions to extend research on this topic. This is the first bibliometric study that explored the intellectual structure of studies in inflation expectations and perceptions. The present study’s findings are helpful for the central banks and policymakers to aid further their existing understanding of inflation expectations and perceptions and its significance for the effectiveness of the monetary policy and their influence on various macroeconomic aggregates.

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Data availability

https://www.webofscience.com/wos/woscc/basic-search

https://www.scopus.com/search/form.uri?display=advanced

Notes

  1. HistCite is a robust quantitative tool that goes beyond the conventional method of literature reviews (Paltrinieri et al. 2019; Apriliyanti and Alon 2017; Zupic and Carter 2015). HistCite has been widely used in several studies (Paltrinieri et al. 2019; Apriliyanti and Alon 2017; Fetscherin and Heinrich 2015; Christensen and Gazley, 2008).

  2. VOSviewer is a tool for constructing and visualizing bibliometric networks that works on a distance-mapping technique (Van Eck and Waltman 2010). The software is available at www.vosviewer.com

  3. No bibliometric analyses are used for these articles and no duplicate article is found.

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  1. Department of Management Studies, IIT Roorkee, Roorkee, Uttarakhand, 247667, India

    Pooja Kapoor & Sujata Kar

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  1. Pooja Kapoor
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Appendix

Appendix

Table 2 Top 10 most influential countries based on the number of records
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Table 3 Top 10 most influential journals based on the number of records
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Table 4 Top 10 most influential journals based on TGCS/t
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Table 5 Top 10 most influential authors based on the number of records
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Table 6 Top 10 most influential authors based on TGCS/t
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Table 7 Categorization of records on a yearly basis
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Kapoor, P., Kar, S. A review of inflation expectations and perceptions research in the past four decades: a bibliometric analysis. Int Econ Econ Policy 20, 279–302 (2023). https://doi.org/10.1007/s10368-023-00557-w

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