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An Investigation of the Factors Affecting Inflation Perceptions: A Case Study on Business and Economics Undergraduate Students

Şule Gündüz, Seçkin Yildirim and Mübeccel Banu Durukan

Sosyoekonomi Journal, 2020, issue 28(45)

Abstract: The aim of this study is to investigate the factors behind the inflation perceptions of undergraduate students of economics and business. Factors, such as education in economics, sociodemographic conditions, cognitive abilities, financial situation and consumption habits are investigated. The empirical evidence suggests that economics students on the average estimate a higher level of inflation than the official rate however their perceptions are closer to actual rates compared to the other students. The findings reveal that economic literacy, financial situation, gender, and the degree of trust regarding official measures of inflation, and purchase frequency of goods also influence inflation perceptions significantly.

Keywords: Inflation Perception; Monetary Policy; Behavioural Economics. (search for similar items in EconPapers)
JEL-codes: E31 E52 E71 (search for similar items in EconPapers)
Date: 2020
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Handle: RePEc:sos:sosjrn:200314