This paper examines the anchoring of inflation expectations in the euro area based on data from the Survey of … Professional Forecasters (SPF). The analysis shows that the overall distribution of medium- and long-term inflation forecasts has … found to be sensitive to short-term economic developments. These patterns suggest that euro area inflation expectations are …

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 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 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 …

interpret the evolution of the central bank independence from the Great Inflation and during the Great Moderation – i.e. from …

Two extraordinary inflation surprises of the last generation were the longstanding inflation shortfall from central … bank targets and now the pandemic inflationary.Inflation shortfalls can be attributed to characteristics of monetary … inflation. Compounding this problem is a base level of inflation from non-monetary causes, population growth and the natural …