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Inflation and the Formation of Expectations: Some Empirical Results
Credit and Capital Markets – Kredit und Kapital, Vol. 18 (1985), Iss. 4 : pp. 515–526
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John A. Leventakis, Athens
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Abstract
Inflation and the Formation of Expectations: Some Empirical Results
The purpose of this paper is to develop and estimate a model of price determination which includes both foreign and domestic factors. In the estimation of the model we use alternative hypotheses of inflationary expectations which take account of the role of money growth in the formation of expectations. The model is estimated with quarterly data from the small open economy of Greece over the period 1975.I – 1983.IV.