Inflation Expectations: Review and Evidence

Ayhan Kose, Hideaki Matsuoka, Ugo Panizza and Dana Vorisek ()
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Dana Vorisek: World Bank, Development Prospects Group

Koç University-TUSIAD Economic Research Forum Working Papers from Koc University-TUSIAD Economic Research Forum

Abstract: This paper presents a comprehensive examination of the determination and evolution of inflation expectations, with a focus on emerging market and developing economies (EMDEs). The results suggest that long-term inflation expectations in EMDEs are not as well anchored as those in advanced economies, despite notable improvements over the past two decades. Indeed, in EMDEs, long-term inflation expectations are more sensitive to both domestic and global inflation shocks. However, EMDEs tend to be more successful in anchoring inflation expectations in the presence of an inflation targeting regime, high central bank transparency, strong trade integration, and a low level of public debt.

Keywords: inflation; inflation expectations; monetary policy; emerging markets; developing economies. (search for similar items in EconPapers)
JEL-codes: E31 E37 E40 E50 (search for similar items in EconPapers)
Pages: 62 pages
Date: 2019-03
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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Related works:
Working Paper: Inflation Expectations: Review and Evidence (2019)
Working Paper: Inflation expectations: Review and evidence (2019)
Working Paper: Inflation Expectations: Review and Evidence (2019)
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