Analysis of the main features of individual consumers' inflation expectations in the years 2004–2014
Journal Title: Zarządzanie i Finanse - Year 2015, Vol 13, Issue 4
Abstract
The subject of the article is an attempt to identify the model of polish consumers' inflation expectations. For this purpose, based on data for the years 2004–2014, firstly have been tested the features which are typical for rational expectations, namely: unbiasedness and orthogonality. The issue of anticipation of inflation expectations has also been raised. This made it possible to construct a hybrid model as a combination of rational and adaptive expectations.
Authors and Affiliations
Katarzyna Walerysiak-Grzechowska
Keywords
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