Miccoli, Marcello; Neri, Stefano - Banca d'Italia - 2015
-based measures of inflation expectations (such as inflation swaps) have also declined to extremely low levels, which suggests … analysts on the downside. Our analysis shows that market-based inflation expectations, at medium-term maturities, are affected …Since 2013 the inflation rate in the euro area has fallen steadily, reaching all-time lows at the end of 2014. Market …