Haku
Viitteet 1-10 / 21
How informative are aggregated inflation expectations? Evidence from the ECB Survey of Professional Forecasters
(24.05.2016)
Bank of Finland Research Discussion Papers 15/2016
Bank of Finland Research Discussion Papers 15/2016
This study examines aggregated short- and long-term inflation expectations in the unbalanced panel of the ECB Survey of Professional Forecasters. The focus of the study is on heterogeneity of expectations and changing panel ...
Mitä on rahapolitiikan normalisointi?
(29.09.2022)
Euro & talous 3/2022
Euro & talous 3/2022
Inflaation voimakas kiihtyminen on käynnistänyt rahapolitiikan normalisoinnin, jossa rahoitusoloja kiristetään esimerkiksi nostamalla ohjauskorkoja. Keskuspankit ovat siirtymässä epätavanomaisista rahapolitiikkatoimista ...
Inflationary household uncertainty shocks
(14.02.2022)
Bank of Finland Research Discussion Papers 5/2022
Bank of Finland Research Discussion Papers 5/2022
I construct a novel measure of household uncertainty based on survey data for European countries. I show that household uncertainty shocks do not universally behave like negative demand shocks. Notably, household uncertainty ...
The role of expectations in the inflation process in the euro area
(01.03.2005)
Bank of Finland Research Discussion Papers 6/2005
Bank of Finland Research Discussion Papers 6/2005
This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation expectations affect both inflation and output,and, on the other hand, how inflation expectations reflect ...
Anchoring of inflation expectations in the euro area : recent evidence based on survey data
(15.11.2016)
European Journal of Political Economy January
European Journal of Political Economy January
This article analyses the anchoring of inflation expectations of professional forecasters and consumers in the euro area. We study anchoring, defined as the central bank's ability to manage expectations, by paying special ...
Inflaatio-odotukset auttavat tulkitsemaan euroalueen inflaatiokehitystä
(16.09.2021)
Euro & talous 4/2021
Euro & talous 4/2021
Inflaatio on toipumassa koronakriisin aiheuttamasta poikkeuksellisesta heikkenemisestä. Rahapolitiikan ja hintavakauden näkökulmasta lyhyen aikavälin heilahteluja tärkeämpää on tarkastella inflaationäkymiä keskipitkällä ...
Huhut Phillipsin käyrän kuolemasta ovat vahvasti liioiteltuja
(27.03.2018)
Euro & talous 1/2018
Euro & talous 1/2018
Euroalueen inflaatio on ollut hidasta viime vuosina. Osa inflaation hitaudelle esitetyistä syistä, kuten globalisaatio ja digitalisaatio, haastavat ennen kriisiä vallinneen tavan ymmärtää inflaation muodostumista ...
Analysing euro area inflation outlook with the Phillips curve
(08.09.2021)
BoF Economics Review 5/2021
BoF Economics Review 5/2021
This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook. Our NKPC specification, that relies on market- and surveybased inflation expectations, explains well ...
On the formation of inflation expectations in turbulent times: The case of the euro area
(22.01.2018)
Economic Modelling June
Economic Modelling June
Studying formation of inflation expectations in the euro area we propose a novel method, integrating rational, adaptive and sticky-information models. We find that in recent turbulent times, formation of inflation expectations ...
The financial crisis changed the instruments but not the objectives of monetary policy
(18.05.2015)
Bank of Finland. Bulletin 1/2015
Bank of Finland. Bulletin 1/2015
Central banks have acted forcefully to provide monetary accommodation. With little room for manoeuvre for standard interest rate policy, unconventional measures have been adopted. Committing to monetary accommodation gains ...