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Análisis descriptivo de la Encuesta de Expectativas de Inflación de las Firmas

Author

Listed:
  • Rodrigo Marrero

    (Banco Central del Uruguay)

  • Miguel Mello

    (Banco Central del Uruguay)

Abstract

The study focuses on who typically responds to the Business Expectations Survey (BES), what sources of information are used to form inflation expectations, and how useful the information derived from the BES is for firms. It also investigates what firms attribute to the expectations exceeding the monetary policy objective. The results indicate that there are differences in the level of inflation expectations depending on who responds to the survey, but not in the accuracy of the forecasts. Firms whose representatives respond to the survey are informed from a greater number of information sources, especially through official sources. Additionally, there is a significant group of firms that do not use the survey information.

Suggested Citation

  • Rodrigo Marrero & Miguel Mello, 2023. "Análisis descriptivo de la Encuesta de Expectativas de Inflación de las Firmas," Documentos de trabajo 2023002, Banco Central del Uruguay.
    • Handle: RePEc:bku:doctra:2023002
    as

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    File URL: https://www.bcu.gub.uy/Estadisticas-e-Indicadores/Documentos%20de%20Trabajo/2.2023.pdf
    File Function: First version, 2023
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    More about this item

    Keywords

    Expectations; pricing; monetary policy; survey;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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