Inflation Expectations in Turkey : Statistical Evidence from the Business Tendency Survey
AbstractIn Turkey, the importance placed on public's expectations about future economic and financial conditions has risen in recent years within the upcoming fully-fledged policy of inflation targeting framework; in accordance, information on expectations of future inflation could be inferred from surveys of expectations. This paper examines the inflation expectations of firms in the manufacturing sector in Turkey, assessing the Central Bank of the Republic of Turkey's Business Tendency Survey data. The focus of this paper is a wide-ranging analysis of the characteristics of the inflation expectations of firms rather than their formation. The paper not only evaluates the performance of inflation expectations (whether they are in line with realizations and how they react to the shifts in the economy) but also handles the characteristics of their distribution. Besides, the paper attempts to see how expectations vary across sub-sectors and to analyze their relationship with other expectations.
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Bibliographic InfoArticle provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its journal Central Bank Review.
Volume (Year): 5 (2005)
Issue (Month): 2 ()
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Web page: http://www.tcmb.gov.tr/
More information through EDIRC
Inflation Expectations; Survey Data Analysis;
Find related papers by JEL classification:
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Harvard Institute of Economic Research Working Papers
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