The role of financial literacy in shaping inflation beliefs: The case of Ukraine

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dc.contributor.authorTsapin, Andriyen_US
dc.contributor.authorFaryna, Oleksandren_US
dc.date.accessioned2026-05-20T08:30:26Z
dc.date.available2026-05-20T08:30:26Z
dc.date.issued2025
dc.description.abstractThis paper investigates how households’ financial literacy influences their perceptions of past inflation and expectations of future price changes. Using novel survey data collected in Ukraine, we employ instrumental variable quantile regression models across various household subsamples to assess the asymmetric and heterogeneous effects of financial literacy on inflation-related beliefs. We find that the impact of financial literacy varies significantly across the distributions of inflation perceptions and expectations, shaped by distinct components – knowledge, behavior, and attitude – as well as by household characteristics such as size, income level, and place of residence. We also find that trust in the banking system enhances the accuracy of inflation beliefs, with a stronger effect as perceptions and expectations deviate from benchmarks. These findings have important implications for central banks seeking to anchor inflation expectations.en_US
dc.identifier.citationTsapin A. The role of financial literacy in shaping inflation beliefs: The case of Ukraine / Andriy Tsapin, Oleksandr Faryna // Central Bank Review. - 2025. - Vol. 25. - Article number 100225. - https://doi.org/10.1016/j.cbrev.2025.100225en_US
dc.identifier.issn1303-0701
dc.identifier.issn2524-1699
dc.identifier.urihttps://doi.org/10.1016/j.cbrev.2025.100225
dc.identifier.urihttps://ekmair.ukma.edu.ua/handle/123456789/39572
dc.language.isoenen_US
dc.relation.sourceCentral Bank Reviewen_US
dc.statusfirst publisheden_US
dc.subjectinflation expectationsen_US
dc.subjectinflation perceptionsen_US
dc.subjectinancial literacyen_US
dc.subjectmonetary policyen_US
dc.subjectarticleen_US
dc.titleThe role of financial literacy in shaping inflation beliefs: The case of Ukraineen_US
dc.typeArticleen_US
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