Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/219761
Authors: 
Acedanski, Jan
Wlodarczyk, Julia
Year of Publication: 
2015
Series/Report no.: 
Institute of Economic Research Working Papers No. 145/2015
Abstract: 
Inflation expectations, both their median and dispersion, are of a great importance to the effectiveness of monetary policy. The goal of this paper is to examine the impact of the global financial crisis on dispersion of inflation expectations in the European Union. Using European Commission's survey data, we find that in the early phase of the crisis the dispersion dropped rapidly but then, after Lehman Brothers' collapse, the trend reversed and these fluctuations cannot be explained by movements of inflation rates and other commonly used factors. We also observe that, in the new European Union member states, the initial drop of the dispersion was weaker whereas the subsequent rise was stronger as compared to the old member states.
Subjects: 
inflation expectations
survey data
global financial crisis
European Union
JEL: 
C33
C42
D84
E31
Creative Commons License: 
https://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

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