Upward sloping yield curves are hard to reconcile with the positive association between income and inflation (the … Phillips curve) in consumption-based asset pricing models. Using US and UK data, this paper shows inflation is negatively … the importance of monetary policy, predicting that a permanently low growth and low inflation environment would …

, potential growth) and short-run (inflation, short-term interest rates, etc.) determinants of sovereign borrowing costs. We find …

This paper documents five facts about inflation expectations in the euro area. First, individual inflation forecasts … overreact to individual news. Second, the cross-section average of individual forecasts of inflation underreact to shocks … initially, but overreacts in the medium term. Third, disagreement about future inflation increases in response to news when the …

Anchoring of inflation expectations is of paramount importance for central banks' ability to deliver stable inflation … and minimize price dispersion. Relying on daily interest rates and inflation forecasts from major financial institutions … the dispersion of inflation expectations, a proxy for the extent of anchoring, which is based on the same analysts …