How Are Inflation Expectations of Enterprises Formed: Survey Results

N. A. Karlova, Elena Puzanova, I. V. Bogacheva and A. G. Morozov
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N. A. Karlova: Research and Forecasting Department, Bank of Russia
I. V. Bogacheva: Research and Forecasting Department, Bank of Russia
A. G. Morozov: Research and Forecasting Department, Bank of Russia

Studies on Russian Economic Development, 2020, vol. 31, issue 5, 522-532

Abstract: Abstract— The article presents the results of a survey of manufacturing enterprises conducted to study the nature of inflation expectations of Russian companies. The survey data show a high heterogeneity and weak anchoring of inflation expectations (i.e., their instability in the case of short-term inflation fluctuations), which indicates the continuation of adaptation processes in the Russian economy in the transition to inflation targeting policies. In this situation, an important task for the central bank is to strengthen the impact of monetary policy measures on the process of generating inflation expectations of enterprises.

Keywords: inflation expectations; inflation targeting; anchoring inflation expectations; enterprise survey (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1134/S1075700720050093

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