Pregled bibliografske jedinice broj: 1026694
Some properties of inflation expectations in the euro area
Some properties of inflation expectations in the euro area // Metroeconomica, 71 (2020), 1; 176-203 doi:10.1111/meca.12273 (međunarodna recenzija, članak, znanstveni)
CROSBI ID: 1026694 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Some properties of inflation expectations in the
euro area
Autori
Sorić, Petar ; Lolić, Ivana ; Matošec, Marina
Izvornik
Metroeconomica (0026-1386) 71
(2020), 1;
176-203
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
expected inflation ; rational expectations ; Consumer Surveys ; Survey of Professional Forecasters ; time-varying parameters model
Sažetak
This paper assesses the euro area inflation expectations by examining five different survey‐ based expectations indicators. The Survey of Professional Forecasters outperforms all other expectations indicators in terms of forecasting accuracy. We test the unbiasedness and efficiency of these indicators by viewing the Rational Expectations Hypothesis (REH) from a time‐varying perspective in a state space framework. Our model shows that the deviations from expectations' unbiasedness and efficiency are the most pronounced in the global financial crisis. Additionally, we offer evidence that the adaptive expectations and regressive expectations models are considerably more in line with actual data than REH.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
POVEZANOST RADA
Projekti:
HRZZ-IP-2018-01-4189 - EKONOMSKI SENTIMENT: STATISTIČKI, POLITIČKI, BIHEVIORALNI I MEDIJSKI ASPEKTI NJEGOVOG UTJECAJA NA EKONOMSKU AKTIVNOST (EconSent) (Sorić, Petar, HRZZ - 2018-01) ( CroRIS)
Ustanove:
Ekonomski fakultet, Zagreb
Citiraj ovu publikaciju:
Časopis indeksira:
- Current Contents Connect (CCC)
- Web of Science Core Collection (WoSCC)
- Social Science Citation Index (SSCI)
- SCI-EXP, SSCI i/ili A&HCI
- Scopus
- EconLit
