Dispersion of Inflation Expectations in the European Union During the Global Financial Crisis

• Autorzy: Jan Acedański , Julia Włodarczyk
• Języki publikacji: EN

Abstrakty

EN

Inflation expectations, both their median and dispersion, are of great importance to the effectiveness of monetary policy. The goal of this paper is to examine the impact of the global financial crisis on dispersion of inflation expectations in the European Union. Using European Commission's survey data, we find that in the early phase of the crisis the dispersion dropped rapidly but then, after Lehman Brothers' collapse, the trend reversed and these fluctuations cannot be explained by movements of inflation rates and other commonly used factors. We also observe that, in the new European Union member states, the initial drop of the dispersion was weaker whereas the subsequent rise was stronger as compared to the old member states. (original abstract)

Słowa kluczowe

EN

Inflation expectations; Financial crisis

PL

Oczekiwania inflacyjne; Kryzys finansowy

• Czasopismo: Equilibrium
• Rocznik: 2016
• Tom: 11
• Numer: nr 4
• Strony: 737--749

Twórcy

autor

Jan Acedański

• University of Economics in Katowice, Poland

autor

Julia Włodarczyk

• University of Economics in Katowice, Poland

Bibliografia

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Identyfikatory

DOI

10.12775/EQUIL.2016.033