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Development of Inflation Expectations in Serbia and a Comparative Analysis

Author

Listed:
  • Vesna Martin

    (National Bank of Serbia, Belgrade, Serbia)

Abstract

Inflation expectations are very important when it comes to monetary policy and its decisions. In countries which are applying inflation targeting, inflation expectations reflect prediction of economic agents of movement of inflation rate in mid and long term. Anchored inflation expectations and their movements within target tolerance band are pointing to effectiveness of the inflation targeting strategy. Consistent with the best international practice, after introducing the inflation targeting regime in January 2009, the National Bank of Serbia began monitoring and analysing inflation expectations of economic agents (financial sector, corporate sector, trade unions, and households). The aim of this paper is to analyse inflation expectations in Serbia, but also to give a comparative analysis of inflation expectation of other countries which are using inflation targeting and floating exchange rate, as is the case of the National Bank of Serbia.

Suggested Citation

  • Vesna Martin, 2020. "Development of Inflation Expectations in Serbia and a Comparative Analysis," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(1), pages 61-79.
    • Handle: RePEc:cbk:journl:v:9:y:2020:i:1:p:61-79
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol9no1-4.pdf
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    Citations

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    Cited by:

    1. Monique B. Reid & Pierre L. Siklos, 2022. "How Firms and Experts View The Phillips Curve: Evidence from Individual and Aggregate Data from South Africa," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(12), pages 3355-3376, September.
    2. Aslı Güler, 2021. "Does Monetary Policy Credibility Help in Anchoring Inflation Expectations? Evidence from Six Inflation Targeting Emerging Economies," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(1), pages 93-111.
    3. Katharina Allinger & Fabio Rumler, 2023. "Inflation Expectations in CESEE: The Role of Sentiment and Experiences (Katharina Allinger, Fabio Rumler)," Working Papers 247, Oesterreichische Nationalbank (Austrian Central Bank).

    More about this item

    Keywords

    inflation expectations; monetary policy; economic agents; anchored expectations.;
    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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