inflation expectations in the two currency areas before and during the crisis. We find a somewhat stronger anchoring of … inflation expectations in the euro area than in the United States. During the crisis, the degree of anchoring of inflation … expectations did not change in the euro area, but it decreased to some extent in the United States. …

expectations. In contrast to other measures of expected inflation, such as for experts or financial market participants, consumers …' inflation expectations capture the broader distribution of societal beliefs about inflation. This research has revealed very … significant deviations from traditional assumptions about rationality in consumers' expectations formation. However, households do …

We use inflation and income growth expectations from the ECB Consumer Expectations Survey to measure the subjective … turns out to be particularly large for moderate inflation expectations. We find significant heterogeneity in the inflation …