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Das vorliegende Papier vergleicht die auf dem Markt offenbarte Inflationserwartung mit den Inflationsprognosen auf der …-Prognosen. -- Inflationserwartungen ; Rationale Erwartungen ; Inflationsprognosen …The present paper compares expected inflation to (econometric) inflation forecasts based on a number of forecasting …
Persistent link: https://www.econbiz.de/10003886534
This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with …. While average output and inflation result the same as under rational expectations, higher moments differ substantially …: output and inflation show persistence, inflation responds sluggishly to nominal disturbances, and the dynamic correlations of …
Persistent link: https://www.econbiz.de/10009765344
This paper investigates the changing behavior of inflation expectations in response to the macroeconomic and policy … environment. Using a panel of professional forecasters covering thirteen years of inflation targeting period from Turkey, we … present evidence on the behavioral shifts in the inflation expectations associated with evolving macroeconomic and policy …
Persistent link: https://www.econbiz.de/10012307419
household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain … in high inflation countries are using higher best fitting constant gain parameters than those in low inflation countries … frequently than households. Furthermore, household expectations in the Euro Area have not converged to the inflation goal of the …
Persistent link: https://www.econbiz.de/10012991141
This paper reinvestigates the performance of trimmed-mean inflation measures some 20 years since their inception … measures in forecasting headline inflation. …
Persistent link: https://www.econbiz.de/10010251647
The purpose of the paper is to introduce the framework for decomposing the forecast of headline inflation, obtained by … core inflation. The model for inflation decomposition is a small structural model, set up in state space framework. Kalman … filter procedure is applied to filter the future paths of CPI components, given projected headline inflation obtained by …
Persistent link: https://www.econbiz.de/10011926820
This paper investigates the effects of media coverage and macroeconomic conditions on inflation forecast disagreement … inflation affects forecast disagreement by influencing information sets as well as predictor choice. Our empirical results show … and professionals primarily depends on the current rate of inflation …
Persistent link: https://www.econbiz.de/10013039550
This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook …. Our NKPC specification, that relies on market- and survey-based inflation expectations, explains well euro area inflation … long-horizons. Overall, the NKPC is a useful tool for monitoring euro area inflation outlook. Thanks to its fast and light …
Persistent link: https://www.econbiz.de/10012622377
inflation rates of Turkey and propose a new weighting scheme, the time-varying simple weighting method. Our guiding principle … prospective credibility of the inflation-targeting regime of the central bank of the Republic of Turkey …
Persistent link: https://www.econbiz.de/10013124997
This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with …. While average output and inflation result the same as under rational expectations, higher moments differ substantially …: output and inflation show persistence, inflation responds sluggishly to nominal disturbances, and the dynamic correlations of …
Persistent link: https://www.econbiz.de/10014124809