characterize the expected path of nominal and real short-rates as well as inflation using the universe of U.S. surveys of … by term premiums, not expected short rates or inflation; 2) term premiums co-move more strongly across maturities than … is primarily the result of a decline of expected inflation and term premiums while expected future real rates have …

The paper studies how a prolonged period of subdued price developments may induce a de-anchoring of inflation … properties of inflation expectations in the euro area. Our results also suggest that monetary policy may lose effectiveness if …