s were mainly due to imperfect credibility, evident in volatility and stubbornness of long-term interest rates. Studying …'s credibility. We also consider the interplay of monetary targets, operating procedures, and credibility during the Volcker …

We use a representative online survey to investigate the inflation expectations of German consumers and the credibility … of the ECB's inflation target during the recent high inflation period. We find that credibility has trended downwards …

credibility. In our setting, central bank credibility is proportional to the deviation of inflation expectations from the … announced inflation target, with positive deviations being more costly compared to negative ones. A loss in policy credibility …. We find that the extended model with credibility effects matches well the key macroeconomic data over specific past …

s were mainly due to imperfect credibility, evident in volatility and stubbornness of long-term interest rates. Studying …'s credibility. We also consider the interplay of monetary targets, operating procedures, and credibility during the Volcker …

Evidence on the credibility of a central bank's inflation target typically refers to the anchoring of survey …-varying credibility of the inflation target. Our results indicate that credibility has significantly decreased in our sample period … below 2% for several years, credibility has declined mainly because Germans increasingly expect that inflation will be much …