Inflation Targeting and the Anchoring of Inflation Expectations in the CEE Countries

被引：4

作者：

Nedeljkovic, Milan ^{[1
,2
]}

Savic, Nebojsa ^{[1
,2
]}

Zildzovic, Emir ^{[3
]}

机构：

[1] Natl Bank Serbia, Belgrade, Serbia

[2] Metropolitan Univ, Fac Econ Finance & Adm, Belgrade, Serbia

[3] European Bank Reconstruct & Dev, London, England

来源：

PANOECONOMICUS | 2017年 / 64卷 / 04期

关键词：

Inflation targeting; Monetary policy; Credibility; Time-varying parameter VAR; Mixture innovation model; EMERGING ECONOMIES; UNIT-ROOT; MONETARY; DIFFERENCE;

D O I：

10.2298/PAN150219005N

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies the time evolution in the degree and level of anchoring of inflation expectations in four Central and Eastern European inflation targeting countries. The results suggest that the degree of anchoring of inflation expectations increased gradually in all countries over the last decade, while the level of implied inflation targets moved towards the official target. The extent of anchoring increased more strongly in the first years following the IT adoption and more gradually over the later period. We also find that smooth changes of the official target had a positive impact on anchoring.

引用

页码：423 / 437

页数：15

共 28 条

[1]

[Anonymous], 2013, IS INFLATION TARGETI

[2] Moving from Inflation Targeting to Prices and Incomes Policy [J].