Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis
This article jointly analyzes inflation expectations of consumers and inflation forecasts. Its starting point is the predominant role of expectations in monetary policy. This is crucial market information in the decision-making process of the central bankers as it may show the actual future inflatio...
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| Format: | Article |
| Idioma: | English |
| Publicat: |
Lodz University Press
2015-12-01
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| Col·lecció: | Comparative Economic Research |
| Matèries: | |
| Accés en línia: | https://czasopisma.uni.lodz.pl/CER/article/view/7083 |
| _version_ | 1831774379737874432 |
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| author | Magdalena Szyszko |
| author_facet | Magdalena Szyszko |
| author_sort | Magdalena Szyszko |
| collection | DOAJ |
| description | This article jointly analyzes inflation expectations of consumers and inflation forecasts. Its starting point is the predominant role of expectations in monetary policy. This is crucial market information in the decision-making process of the central bankers as it may show the actual future inflation. On the other hand, the central bank wants to influence expectations in order to facilitate achieving the main goals of monetary policy. Inflation forecasting is a tool for shaping public expectations. In the research, covering four central banks (the National Bank of Hungary, National Bank of Poland, the Czech National Bank, Sveriges Riksbank), the author analyzes the interdependencies of inflation forecasts and inflation expectations of consumers. Data on expectations are derived from the surveys and quantified. Then non-parametric measures of association are calculated. The results confirm the hypothesis on the existence of such relationships. The strength of this interdependence varies among countries, from weak to strong. The study opens the field for further discussions on strengthening this relationship. |
| first_indexed | 2024-12-22T08:53:17Z |
| format | Article |
| id | doaj.art-ff2912d9c5fc42da9b0d59a8f41f7d6f |
| institution | Directory Open Access Journal |
| issn | 1508-2008 2082-6737 |
| language | English |
| last_indexed | 2024-12-22T08:53:17Z |
| publishDate | 2015-12-01 |
| publisher | Lodz University Press |
| record_format | Article |
| series | Comparative Economic Research |
| spelling | doaj.art-ff2912d9c5fc42da9b0d59a8f41f7d6f2022-12-21T18:31:55ZengLodz University PressComparative Economic Research1508-20082082-67372015-12-0118413915610.1515/cer-2015-00337083Inflation Forecasts Versus Shaping Inflation Expectations. Comparative AnalysisMagdalena Szyszko0Poznan School of Banking, Finance and Banking DepartmentThis article jointly analyzes inflation expectations of consumers and inflation forecasts. Its starting point is the predominant role of expectations in monetary policy. This is crucial market information in the decision-making process of the central bankers as it may show the actual future inflation. On the other hand, the central bank wants to influence expectations in order to facilitate achieving the main goals of monetary policy. Inflation forecasting is a tool for shaping public expectations. In the research, covering four central banks (the National Bank of Hungary, National Bank of Poland, the Czech National Bank, Sveriges Riksbank), the author analyzes the interdependencies of inflation forecasts and inflation expectations of consumers. Data on expectations are derived from the surveys and quantified. Then non-parametric measures of association are calculated. The results confirm the hypothesis on the existence of such relationships. The strength of this interdependence varies among countries, from weak to strong. The study opens the field for further discussions on strengthening this relationship.https://czasopisma.uni.lodz.pl/CER/article/view/7083inflation forecastsinflation forecast targetinginflation expectations |
| spellingShingle | Magdalena Szyszko Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis Comparative Economic Research inflation forecasts inflation forecast targeting inflation expectations |
| title | Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis |
| title_full | Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis |
| title_fullStr | Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis |
| title_full_unstemmed | Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis |
| title_short | Inflation Forecasts Versus Shaping Inflation Expectations. Comparative Analysis |
| title_sort | inflation forecasts versus shaping inflation expectations comparative analysis |
| topic | inflation forecasts inflation forecast targeting inflation expectations |
| url | https://czasopisma.uni.lodz.pl/CER/article/view/7083 |
| work_keys_str_mv | AT magdalenaszyszko inflationforecastsversusshapinginflationexpectationscomparativeanalysis |