Inflation expectations in Costa Rica
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| Authors: | , |
|---|---|
| Format: | artículo original |
| Status: | Versión publicada |
| Publication Date: | 2014 |
| Description: | The Banco Central de Costa Rica (BCCR) is currently transitioning to an Inflation Targeting (IT) regime. In such context, it is relevant for the monetary authority to characterize in the most complete way possible the inflation expectations of the population, both in the particular elements of the forecasts and in the processes by which agents take information into account for their individual predictions. This paper documents the analysis of the inflation expectations data contained in the Monthly Survey of Inflation and Exchange Rate Expectations. We test several hypotheses such as rational and adaptive expectations. The results show significant biases in those expectations, while there is also a lack of learning from past errors by the agents surveyed. |
| Country: | Portal de Revistas UCR |
| Institution: | Universidad de Costa Rica |
| Repositorio: | Portal de Revistas UCR |
| Language: | Español |
| OAI Identifier: | oai:portal.ucr.ac.cr:article/15054 |
| Online Access: | https://revistas.ucr.ac.cr/index.php/economicas/article/view/15054 |
| Keyword: | METAS DE INFLACIÓN ENCUESTAS BANCA CENTRAL EXPECTATIVAS RACIONALES EXPECTATIVAS ADAPTATIVAS INFLATION TARGETING SURVEYS CENTRAL BANKING RATIONAL EXPECTATIONS ADAPTATIVE EXPECTATIONS |