Gerlach-Kristen, Petra; Moessner, Richhild - In: Swiss journal of economics and statistics 150 (2014) 2, pp. 55-87
Long-run inflation expectations should not respond to economic news if the central bank is seen as credibly committed … to stabilising inflation. In this paper we find that since the onset of the global financial crisis, medium and long …-term inflation expectations implied by inflation swaps in the euro area, United Kingdom and United States have become less responsive …