Macroeconomic Fundamentals and Attention: What Drives European Consumers' Inflation Expectations?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F24%3A10253035" target="_blank" >RIV/61989100:27510/24:10253035 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/62156489:43110/24:43924255

Výsledek na webu

<a href="https://www.sciencedirect.com/science/article/pii/S0939362523000924?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0939362523000924?via%3Dihub</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.ecosys.2023.101153" target="_blank" >10.1016/j.ecosys.2023.101153</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Macroeconomic Fundamentals and Attention: What Drives European Consumers' Inflation Expectations?

Popis výsledku v původním jazyce

Using survey data on consumer inflation expectations in the European Union countries, we investigate the price, macroeconomic, attention, and geopolitical determinants of European consumers&apos; inflation expectations. We employ panel data regression with both fixed and random effects. We conclude that when consumers in the EU form their expectations regarding future inflation, they are determined not only by past inflation and the general macroeconomic situation, but also by selected attention variables expressing their search queries on the Internet (SVI based on Google Trends), and uncertainty concerning economic policy (EPU) steps and measures. Moreover, our baseline specification also suggests that inflation expectations of consumers in the Central and Eastern European countries are higher than those in Euro Area countries. These findings are robust to multiple specifications using individual survey indicators of expected inflation.

Název v anglickém jazyce

Macroeconomic Fundamentals and Attention: What Drives European Consumers' Inflation Expectations?

Popis výsledku anglicky

Using survey data on consumer inflation expectations in the European Union countries, we investigate the price, macroeconomic, attention, and geopolitical determinants of European consumers&apos; inflation expectations. We employ panel data regression with both fixed and random effects. We conclude that when consumers in the EU form their expectations regarding future inflation, they are determined not only by past inflation and the general macroeconomic situation, but also by selected attention variables expressing their search queries on the Internet (SVI based on Google Trends), and uncertainty concerning economic policy (EPU) steps and measures. Moreover, our baseline specification also suggests that inflation expectations of consumers in the Central and Eastern European countries are higher than those in Euro Area countries. These findings are robust to multiple specifications using individual survey indicators of expected inflation.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Economic Systems

ISSN

0939-3625

e-ISSN

1878-5433

Svazek periodika

48

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

19

Strana od-do

101153

Kód UT WoS článku

001203751300001

EID výsledku v databázi Scopus

2-s2.0-85178355071