We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries … substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since …

interest rates. Three factors explain the different preferences. First, politicians put relatively less weight on inflation …

, which tends to report more negatively on ECB policy decisions when inflation exceeds the inflation target. …

announcing a quantified inflation objective, other forms of communication, or by publishing central banks’ inflation and output … (economic) transparency, and given our findings that disagreement among inflation expectations in the general public is not …