The aim of the paper is to test whether adaptive learning is a plausible way of describing the formation mechanism of inflation expectations of Polish consumers and bank analysts. I find some evidence that both groups of agents correct their expectations as new information is available. Moreover, it seems that consumers and bank analysts use rather simple forecasting rules and there are no large differences in the learning process between them.

Keywords: adaptive learning, inflation expectations
JEL: C53, D83, D84

  Ewa Stanisławska - Do Polish Consumers and Bank Analysts Learn How to Forecast Inflation? - plik pdf; (1,0 MB)