same inflation or interest rate expectations can differently assess whether the level of the corresponding variable is … and affects durable spending and saving decisions. We also show that the variation in inflation preferences can be …

inflation and monetary policy, including: 1) inflation perceptions and expectations, 2) interest in and subjective, as well as …

since the early 1990s for a group of 9 economies, 5 of which explicitly target inflation, and ask: To what extent are … disagreements over forecasts of inflation driven by movements in relative prices? The empirical evidence leads to the following … conclusions. First, there is little doubt that IT has contributed to narrowing the forecast differences vis-a-vis U.S. inflation …

We investigate how macroeconomic drivers affect the predictive inflation distribution as well as the probability that … inflation will run above or below certain thresholds over the near term. This is what we refer to as Inflation-at-Risk–a measure … of the tail risks to the inflation outlook. We find that the recent muted response of the conditional mean of inflation …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment …

We use two market-based measures of inflation compensation to explore the transmission mechanism of monetary policy to … inflation markets. New information about the Fed's monetary policy stance becomes available on the days of meetings of the … Federal Open Market Committee (FOMC) and is reflected in asset prices. We measure the sensitivity of inflation compensation …

inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority … achieves equilibria with substantially lower long-run inflation risk. With either sticky prices or sticky wages, a price path … target reduces the variance of inflation by an order of magnitude more than it increases the variability of the output gap …

imposing rational expectations, direct measures, ie OECD forecasts, are used to proxy economic agents' inflation expectations … Classical and Hybrid Phillips curves. We interpret our results as indicating that the European inflation process is not purely … forwardlooking, so that inflation cannot instantaneously adjust to new information. Consequently, even allowing for possible non …

This paper uses a ‘trendy' approach to understand UK inflation dynamics. It focuses on the time series to isolate a low …-frequency and slow-moving component of inflation (the trend) from deviations around this trend. We find that this slow-moving trend … explains a substantial share of UK inflation dynamics. International prices are significantly correlated with the short …

Do euro area inflation expectations remain well-anchored? This paper finds that the protractedperiod of low (and below …-target) inflation in the euro area since 2013 has weakened theiranchoring. Testing their sensitivity to inflation and macroeconomic news … robustness to our conclusions. Results point to a significantimpact of inflation news over recent years that had not been …