Monthly data on the inflation expectations of financial analysts in the Czech Republic exhibit a tendency for permanent bias and ineffectiveness which violates the rational expectations hypothesis assumed in macroeconomic models. Using a methodology based on a simple Fisher rule, it is found that the difference between the surveyed and market expectations is not statistically significant.
Workplace
Economics Institute
Contact
Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122
Year of Publishing
2006
Number of the records: 1
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