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consumer inflation perception, as proxied with survey data. The results suggest that Polish consumers observe a relatively wide …) – that seems more adequate than current CPI inflation on the one hand and survey-based measures of perceived inflation scaled …Inflation perceived by consumers may differ from official statistics particularly due to different baskets of goods and …
Persistent link: https://www.econbiz.de/10010705524
Anchored inflation expectations help stabilize inflation. Previous results indicate that monetary policy has been … effective in breaking the link between actual and expected inflation at the euro area level. In this paper we examine whether … this is also true at the national level. We define the ‘disconnect’ between inflation and inflation expectations and then …
Persistent link: https://www.econbiz.de/10010577069
Persistent link: https://www.econbiz.de/10008499714
The Israeli Economy has served as a laboratory for the study of inflation and government policy reponse. In periods … crucial for Israel's experience of inflation, finance ministers were replaced frequently, often changing their predecessors …' policies, much to the detriment of inflation. Inflation grew from an average of less than 10% per year in the decade preceding …
Persistent link: https://www.econbiz.de/10005622172
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...
Persistent link: https://www.econbiz.de/10005825693
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central...
Persistent link: https://www.econbiz.de/10005825754
-induced inflation anticipations that are typical to Guyana. …
Persistent link: https://www.econbiz.de/10005825837
This is the second of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...
Persistent link: https://www.econbiz.de/10005825847
Interest rate pass-through from policy interest rates to market rates and inflation has been hypothesized to play a …
Persistent link: https://www.econbiz.de/10005826351
This paper investigates various output gap measures in a simple inflation forecasting framework. Reflecting the … pressures, including a gap could improve the accuracy of autoregressive inflation forecasting. This assertion is tested in a …
Persistent link: https://www.econbiz.de/10005826587