This paper examines whether the clarity of central bank communication about inflation has changed with the economic … environment. We use readability statistics and content analysis to study the clarity of communication on the inflation outlook by … explaining their policies when faced with higher uncertainty or a less favorable inflation outlook. The global financial crisis …

of inflation risks. The empirical application shows that trading off monetary and macroprudential policy reduces the … overall costs related to inflation and financial instability. This can be achieved by changing the preferences of the central … bank, lengthening the monetary policy horizon and by a more flexible inflation target. Estimation results of a probit model …

, which could be a harbinger of secular stagnation if the real rate declines. Outcomes of VAR models for Japan, Germany and … the US show that a fall in the real rate indeed affects the natural rate. This causality is significant for Japan …, borderline significant for Germany and not significant for the US. The outcomes for Japan confirm that a prolonged period of low …

Anchored inflation expectations help stabilize inflation. Previous results indicate that monetary policy has been … effective in breaking the link between actual and expected inflation at the euro area level. In this paper we examine whether … this is also true at the national level. We define the disconnect' between inflation and inflation expectations and then …

We investigate whether the anchoring properties of long-run inflation expectations in the United States, the euro area … economies, expectations measures extracted from inflation-indexed bonds and inflation swaps became much more volatile in 2007 …. Moreover, their sensitivity to news about inflation and other domestic macroeconomic variables a measure of anchoring increased …