Abstract
Following on five pilot studies on inflation credibility in South Africa aimed at the construction of inflation credibility barometers and a literature review of the international measurement of inflation perceptions, this paper reports the findings of a study on inflation credibility among 493 students at the University of Pretoria. Credibility barometers are reported for different genders, for Asians, blacks, coloureds and whites, and for students in different faculties. The main conclusions are that the inflation perceptions by the different genders in this study do not correspond with international experience in this regard; international use of inflation barometers will ensure comparability of inflation credibility; and that inflation-targeting countries should sample inflation credibility and calculate an inflation credibility barometer.
Highlights
Introduction to sectionIn line with international trends, the SAJEMS editorial board decided to introduce a section in the journal called: Viewpoints, perspectives or letters to the editor
A review of the literature revealed the measurement of inflation perceptions by the S w e d is h Riksbank, the European Union (EU), the Reserve Bank of New Zealand and the Federal Reserve Bank of Cleveland (Bechtold & Linz, 2005; Bryan & Ventaku, 2001b; Cigan, 2005; European Central Bank, 2005; Howard, 2005; Palmqvist & Stromberg, 2004; Reserve Bank of New Zealand, 2005)
The first conclusion is that the inflation credibility barometer d e li v e r s m o r e u s e r friendly results than those resulting from the approaches followed internationally, inasmuch as it (i) provides an immediate indication of the degree of acceptance of the accuracy of current inflation data; (ii) highlights any change in the degree of such acceptance over time at each occasion of measurement; (iii) is comprehended by the general public; and (iv) provides for international comparison of inflation credibility
Summary
In line with international trends, the SAJEMS editorial board decided to introduce a section in the journal called: Viewpoints, perspectives or letters to the editor. We see this section as an opportunity for senior scholars to provide insight into specific issues or ideas that are unlikely, or not ready, to take the form of a full scientific manuscript. We see this as an opportunity for students and young scholars to share their research results from a less daunting (and belligerent) platform. I would wish to extend an invitation to all our readers to submit shorter, focused, robust and well-articulated views, perspectives, comments, letters or papers to this new section.
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