Expectations

In general, current – i.e. present – perceptions of future market conditions. Extremely important for monetary policy, especially with regard to inflation expectations. – See evaluability, code words, data, soft, survey of professional forecasters, equilibrium models, dynamic stochastic, inflation, cobra effect, minimum estimate of future needs, risk, trend trading, forecasts, saving rate, foreshadow effects, interest rate expectations. – Cf. ECB Monthly Bulletin of April 2006, p. 29, ECB Monthly Bulletin of May 2009, pp. 79 ff. (textbook presentation; many overviews; comparison with the situation in the U.S.; possibilities for the central bank to influence expectations), ECB Monthly Bulletin of January 2011, pp. 51 ff. (possibilities to statistically capture expectations; overviews), ECB Monthly Bulletin of January 2014, p. 59 ff. (knowledge of expectations is essential for monetary policy; by surveying expert forecasters, the ECB gains important insights).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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