Factors Driving Consumers’ Inflation Expectations: Does the Central Bank’s Inflation Forecast Really Matter?

Magdalena Szyszko and Piotr Płuciennik

Eastern European Economics, 2018, vol. 56, issue 4, 307-328

Abstract: This article examines the relationship between consumer expectations and inflation forecasts by the central bank. We assume that the inflation forecast is one of the factors influencing expectations. The vector error correction model is employed to test our hypothesis. The research covers the Bank of England, the Bank of Sweden, and the Czech National Bank from 2001–2015. Our results confirm the interrelation of inflation forecasts and expectations. The research contributes to the literature on inflation expectations and on inflation forecast targeting.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:56:y:2018:i:4:p:307-328

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DOI: 10.1080/00128775.2018.1467781

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