Prague Economic Papers 2011, 20(2):120-139 | DOI: 10.18267/j.pep.392

Inflation Perceptions and Anticipations in the Old Eurozone Member States

Svatopluk Kapounek, Lubor Lacina
Mendel University, Faculty of Business Economics, Department of Finance, Zemědělská 1, CZ - 613 00 Brno (lacina@mendelu.cz, skapounek@mendelu.cz).

There is empirical evidence that the introduction of the euro led to a significant increase of perceived inflation in most countries. Such an increase and persistence in the perceived inflation might then have an impact on inflation expectations and other macroeconomic variables. The authors have used expectational errors to describe the difference between inflation expectations/anticipations and its observed values, subsequently to identify the causality between these variables.

Klíčová slova: monetary integration, perceived and anticipated inflation, adaptive and rational expectations hypothesis, stationarity, ADF test, Granger Non-Causality
JEL classification: E31, F15

Zveřejněno: 1. leden 2011  Zobrazit citaci

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Kapounek, S., & Lacina, L. (2011). Inflation Perceptions and Anticipations in the Old Eurozone Member States. Prague Economic Papers, 20(2), 120-139. doi: 10.18267/j.pep.392
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