Inflation Expectations in Czechia: Measurement and Determinants

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F24%3A43925018" target="_blank" >RIV/62156489:43110/24:43925018 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1108/978-1-83753-840-920241010" target="_blank" >https://doi.org/10.1108/978-1-83753-840-920241010</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1108/978-1-83753-840-920241010" target="_blank" >10.1108/978-1-83753-840-920241010</a>

Result language
angličtina
Original language name
Inflation Expectations in Czechia: Measurement and Determinants
Original language description
Inflation expectations are an important part of the transmission mechanism of the inflation targeting regime. As such, central bankers must study the inflation expectations of economic agents to anchor them close to the level of the inflation target. However, economic agents are affected by the past and current macroeconomic situation when they form their expectations concerning future inflation. Using survey data on inflation expectations in Czechia, we investigate the macroeconomic determinants of Czech analysts' and managers' inflation expectations. We find that both actual and past inflation have a substantial impact on inflation expectations of the agents surveyed. We also identify backward-looking behaviour among these agents: persistence in inflation expectations of up to two quarters was detected. Moreover, financial analysts formed inflation expectations more in line with economic theory, while company managers evinced expectations similar to those of consumers.
Czech name
—
Czech description
—

Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Similar results(10)