characterize the expected path of nominal and real short-rates as well as inflation using the universe of U.S. surveys of … expectations accommodate perceived structural change and learning effects, are consistent with a lower bound on nominal interest … by term premiums, not expected short rates or inflation; 2) term premiums co-move more strongly across maturities than …

imposing rational expectations, direct measures, ie OECD forecasts, are used to proxy economic agents' inflation expectations …-rationality in expectations, a lagged inflation term enters the New Keynesian Phillips curve for European inflation dynamics. The …. Real marginal costs are measured in three different ways. The results suggest that with directly measured expectations the …

This article analyses agents’ perception of the period of low inflation in recent years, in the context of a model in … which these agents form their expectations on the basis of simple forecasting rules. The approach used allows a distinction … to be drawn between which portion of the low inflation phenomenon might be due to temporary factors and which might be …