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Title: Consumer inflation expectations in Poland
Abstract
Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the transmission of monetary policy impulses and their impact on the real and nominal sectors of the economy bear a close relationship to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be quantified with the use of probability or regression methods. This paper presents the results of two versions of the probability method, implemented in order to estimate numerical measures of Polish consumer inflation expectations, based on the monthly Ipsos-Demoskop survey. In addition, the unbiasedness and macroeconomic efficiency of Polish consumer inflation expectations are tested, as are the way in which these are formed. The pattern of responses to the survey question and quantified measures of Polish consumer inflation expectations are also compared with the respective findings for the euro area. [Tomasz £yziak]
Author: £yziak, Tomasz
Series Title: Working paper series / European Central Bank ; 287
Publisher: European Central Bank
Year: 2003
Language: en
Ressource: Einzelne Arbeitspapiere, Preprints
Keyword: Monetary PolicyInflation expectationsPolandConsumersCentral Bankmonetary policyinflationPoland
consumercentral bank
Subject: Economic conditionsCurrency. Monetary policy
Countries Scheme: Poland
Online Ressource: vorübergehend nicht erreichbar!
Bitte beachten Sie die urheberrechtlichen Bedingungen der Dokumentenbenutzung / Please observe the copyright when accessing the document | Quelle / Source: Europäische Zentralbank (http://www.ecb.int)
Title: Accountability and Transparency in Central Banking
Abstract
The study discusses the relationship between accountability and transparency in central banking and the role and scope of parliamentary scrutiny. Special attention is given to the consequences of the current crisis for this area. For the authors, the current crisis shows that price stability alone is not sufficient for financial stability. They therefore argue that preserving financial stability should become a second primary objective for the European Central Bank (ECB), which should be given the appropriate tools to prevent the re-emergence of excessive credit creation and leverage. The study gives recommendations for the current situation as well as for the longer term.[European Parliament]
Author: de Grauwe, Paul | Gros, Daniel
Series Title:European Parliament - Study
Publisher: Europäische Union / Europäisches Parlament
Year: 2009
ISBN / ISSN / Kat.Nr: PE 416.220 | IP/A/ECON/ST/2008-17
Language: en
Ressource: Einzelne Berichte, Studien
Keyword: LiabilityEconomic crisisEuropean Central Bankfinancial markettransparencycentral bank
Subject: European Community financial management
Online Ressource: vorübergehend nicht erreichbar!
Bitte beachten Sie die urheberrechtlichen Bedingungen der Dokumentenbenutzung / Please observe the copyright when accessing the document | Quelle / Source: Europäisches Parlament (http://www.europarl.europa.eu/)
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