If the responses of wages - both private and public - and of pensions to an increase in inflation lead to second …

changed central banking in many ways: by shifting the focus of monetary policy from fighting too high inflation towards … fighting too low inflation; by prompting new ‘experimental’ non-conventional measures, which risk to cause large, long …

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector … autoregressive (SVAR) model. The SVAR approach allows to identify US and EA specific inflation expectations shocks. By modeling the …

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …

We provide new insights on the formation of inflation expectations – in particular at a time of great financial and … answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common … information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results …

This paper analyses the distribution of long-term inflation expectations in the euro area using individual density …

We provide comprehensive evidence of the widespread occurrence of inflation convergence between all countries of the … inflation benchmarks (the cross-sectional average, the inflation target of the European Central Bank, and the Maastricht … criterion), structural breaks, and a core inflation measure. Our main findings imply that further enlargement of the euro area …

We investigate drivers of Euro area inflation dynamics using a panel of regional Phillips curves and identify long …-run inflation expectations by exploiting the crosssectional dimension of the data. Our approach simultaneously allows for the … inclusion of country-specific inflation and unemployment-gaps, as well as time-varying parameters. Our preferred panel …

This paper analyses the distribution of long-term inflation expectations in the euro area using individual density …