horizon-dependent biases and lower accuracy than simple unconditional uncertainty forecasts. We examine the inflation …

underestimate the ECB's inflation forecasting accuracy. In particular, they believe that the ECB is overly optimistic. Communication … that challenges these perceptions improves the anchoring of inflation expectations, reduces inflation uncertainty and … discourages consumption of durable goods. Treated households also report higher trust in the ECB, perceive the ECB's inflation …

. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …

This paper analyzes the time-varying credibility of the Fed's inflation target in an empirical macro model with … asymmetric information, where the public has to learn about the actual inflation target from the Fed's interest rate policy. To …-term inflation expectations of professionals with the perceived inflation target. …

This paper documents a strong relationship between households’ perceptions about inflation over the past 12 months and … households’ short- and long-term expectations about future inflation. This relationship is strong during periods of high-inflation … but even stronger during low-inflation periods. We establish a causal relationship by implementing a randomized …

We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the … shocks through sign restrictions. Our main finding is that expansionary financial shocks temporarily lower inflation. This … during the latest financial crisis. We then explore the transmission channels of financial shocks relevant for inflation, and …

conditions and to any form of intertemporal or nominal-real links. They are easy to employ in practice, using inflation protected … bonds to infer real rates. With a time-varying inflation target, they can implement arbitrary inflation dynamics, including …

number of inflation and real activity measures for the United States. We identify demand and supply factors by imposing … demand and supply over the past five decades. The most recent factor estimates indicate that the inflation surge since mid …

two-way communication between the central bank and the public affects inflation dynamics. When inflation target is … hence the bank can stabilize inflation. However, when inflation target is unobservable or less credible, the public updates … their perceived inflation target and the information revealed from markets to the bank becomes less perfect. The degree of …