This paper examines recent changes in the cyclicality of euro area inflation. We estimate time-varying parameters for … become steeper since 2012. Thus, the current low level of inflation and persistently negative output gap increase the risk … that euro area inflation will stay below the monetary policy target for an extended period. …

This paper examines recent changes in the cyclicality of euro area inflation. We estimate time-varying parameters for … become steeper since 2012. Thus, the current low level of inflation and persistently negative output gap increase the risk … that euro area inflation will stay below the monetary policy target for an extended period. …

​This paper examines recent changes in the cyclicality of euro area inflation. We estimate time-varying parameters for … become steeper since 2012. Thus, the current low level of inflation and persistently negative output gap increase the risk … that euro area inflation will stay below the monetary policy target for an extended period …

-2021: the slope of the loss function was roughly three times steeper when inflation exceeded the target compared to when it was …

estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been … considerably below 2%. Our results suggest further that an inflation aim of 2% combined with asymmetry is a plausible specification …

Using the ECB Consumer Expectations Survey, this paper investigates how consumers revise medium-term inflation … medium-term inflation views in response to changes in short-term inflation expectations and, to a lesser degree, to changes … in perceptions of current inflation. We find that the strong adverse Covid-19 pandemic shock contributed to an increase …

policy strategy announced in July 2021, the de facto inflation aim of the ECB may have been considerably below 2%. We also … find evidence that the loss function has been asymmetric, which would mean that the ECB has been more averse to inflation …

Using the ECB Consumer Expectations Survey, this paper investigates revisions of medium-term inflation expectations. We … provide robust evidence that consumers adjust medium-term inflation views in response to changes in short-term inflation … expectations and, to a lesser degree, to changes in inflation perceptions. We find that the strong adverse Covid-19 shock …

Using the ECB Consumer Expectations Survey, this paper investigates how consumers revise medium-term inflation … medium-term inflation views in response to changes in short-term inflation expectations and, to a lesser degree, to changes … in perceptions of current inflation. We find that the strong adverse Covid-19 pandemic shock contributed to an increase …

estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been … considerably below 2%. Our results suggest further that an inflation aim of 2% combined with asymmetry is a plausible specification …