Inflation Expectations in Czechia: Measurement and Determinants

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Inflation Expectations in Czechia: Measurement and Determinants

Popis výsledku v původním jazyce

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&apos; and managers&apos; 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.

Název v anglickém jazyce

Inflation Expectations in Czechia: Measurement and Determinants

Popis výsledku anglicky

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&apos; and managers&apos; 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.

Druh

C - Kapitola v odborné knize

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

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

Název knihy nebo sborníku

Modeling Economic Growth in Contemporary Czechia

ISBN

978-1-83753-841-6

Počet stran výsledku

18

Strana od-do

153-170

Počet stran knihy

322

Název nakladatele

Emerald Group Publishing Ltd.

Místo vydání

Bingley

Kód UT WoS kapitoly

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