This paper analyses the anchoring, i.e. stability, of long-term inflation expectations, as well as further moments of the distribution, as perceived by the professional forecasters in the euro area and the US. Evaluation is initially performed on the basis of sensitivity to innovations to...

This study assesses the degree of anchoring, i.e. stability, of long-term inflation expectations in the Euro area based on direct survey based evidence and latest data from the ECB's Survey of Professional Forecasters. Consideration of the evolution of the entire distribution of inflation...