IDEAS home Printed from https://ideas.repec.org/a/aob/journl/y2023i1specialp122-135.html
   My bibliography  Save this article

Оценка заякоренности инфляционных ожиданий в Казахстане. // Assessing the Anchoring of Inflation Expectations in Kazakhstan

Author

Listed:
  • Кулкаева А.М. // Kulkaeva A.M.

    (National Bank of Kazakhstan)

  • Сейдахметов А.Н. // Seidakhmetov A.N.

    (National Bank of Kazakhstan)

Abstract

В данной работе была оценена степень заякоренности инфляционных ожиданий населения и профессиональных аналитиков в Казахстане с момента внедрения режима инфляционного таргетирования. Оценка заякоренности была проведена неструктурными методами. Дополнительно была оценена рациональность инфляционных ожиданий, как показателя доверия к центральному банку. В целом результаты исследования показали, что инфляционные ожидания населения являются незаякоренными, при этом степень заякоренности снизилась в последние годы, отражая чувствительность к краткосрочным колебаниям макроэкономических показателей. Инфляционные ожидания профессиональных аналитиков также не заякорены, однако степень заякоренности их ожиданий выше, чем у населения. // In this study, we assessed the degree of anchoring of inflation expectations of the population and professional analysts in Kazakhstan since the introduction of the inflation targeting regime. The anchoring was assessed using non-structural methods. Additionally, the rationality of inflation expectations as an indicator of confidence in the central bank was evaluated. Overall, the results of the study showed that household inflation expectations are unanchored, and the degree of anchoring has decreased in recent years, reflecting sensitivity to short-term fluctuations in macroeconomic indicators. Inflation expectations of professional analysts are also not anchored; however, the degree of anchoring of their expectations is higher than that of the population.

Suggested Citation

  • Кулкаева А.М. // Kulkaeva A.M. & Сейдахметов А.Н. // Seidakhmetov A.N., 2023. "Оценка заякоренности инфляционных ожиданий в Казахстане. // Assessing the Anchoring of Inflation Expectations in Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 1 Special, pages 122-135.
  • Handle: RePEc:aob:journl:y:2023:i:1special:p:122-135
    as

    Download full text from publisher

    File URL: https://nationalbank.kz/file/download/94112
    File Function: English language version
    Download Restriction: no

    File URL: https://nationalbank.kz/file/download/92693
    File Function: Russian language version
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    инфляционные ожидания; заякоренность; инфляция; inflation expectations; anchoring; inflation;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aob:journl:y:2023:i:1special:p:122-135. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Saida Agambayeva (email available below). General contact details of provider: https://edirc.repec.org/data/nbkgvkz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.