Financial and Real Sectors' Inflation Expectations in Turkey: Evidence From Panel Data

Oral, Evrim; Saygılı, Hülya; Saygılı, Mesut; Tuncel, S. Özge

doi:10.2139/ssrn.1320079

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2016

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“…For an international data set where data is collected from a wide range of emerging countries with significant economic and political differences, the failure seem to be quite general, mimicking failures by professional forecasters from more advanced countries. Our study also re-iterates some of the concerns about inflation forecasting in international data sets highlighted by Oral et al (2011) and Bakshi and Yates (1998).…”

Section: Test For Efficiencysupporting

confidence: 76%

“…There has also been some work with international data as well. Oral et al (2011) used consensus survey data collected from professionals published by Turkish Central Bank, and they could not find evidence of rationality of expectations. Curtis (2006) concluded that consumers do not fulfill rational expectations hypothesis while forming inflation expectations.…”

Section: Literature Reviewmentioning

confidence: 99%

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