Inflation Expectations of European Consumers after the Crisis. Do Macro Variables Drive Expectations?

Magdalena Szyszko and Aleksandra Rutkowska

Eastern European Economics, 2019, vol. 57, issue 4, 271-294

Abstract: This article examines the relationship between consumer expectations and macro variables. The research covers five EU member states: Croatia, the Czech Republic, Hungary, Poland, and Romania in the period from 2011 to 2015. Its aim is to find long-run dependence of expectations and financial and real sphere variables in the post-crisis era. No previous studies for this sample and time span exist: this paper contributes to the strand of the literature detecting formation patterns of expectations. VAR/VEC models are estimated in order to trace impulse response to expectations. Five different stories have been found about expectation formation for each economy.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:57:y:2019:i:4:p:271-294

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DOI: 10.1080/00128775.2019.1610896

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