. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the … dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the … policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim …

authority-a scenario increasingly relevant for many developed economies today. Central bank control over the long-run inflation …

Central banks are viewed as having a demonstrated ability to lower long-run inflation. Since the financial crisis … an explanation for why this may be the case. Because central banks have limited instruments, long-run inflation is … ultimately determined by fiscal policy. Central bank control of long-run inflation therefore ultimately hinges on its ability to …