. 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 …

We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson shows …

Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no …, inflation appears to be (nearly) purely forward-looking, so that no mechanism introducing backward-looking components is … necessary to fit the data. These results question the notion that the intrinsic inflation persistence found in post-WWII U …

inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …

To raise the euro's inflation target without an inflationary default and meanwhile to promote growth and the …

In this paper we present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area … significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward … looking component. We then present an optimizing agent model for the area emphasizing the heterogeneity in inflation …

designed. At the time, the main concern of the Governing Council was to anchor inflation at low levels in face of the … low-inflation environment has created the concrete risk of de-anchoring of longer-term inflation expectations. Addressing … low inflation is different from addressing high inflation. The ability of the ECB (and central banks globally) to provide …

indicate that supplementing the inflation target with a tolerance interval may be useful to enhance central bank credibility …

The aim of this paper is to study preference heterogeneity in monetary policy committees of inflation-targeting (IT … on the inflation forecast is measurable in both committees. A separate cluster analysis shows that different preferences …