Inflation expectations and the great recession
AbstractThis article examines whether short-run inflation expectations and indicators of long-term credibility have been affected by the great recession and by the policies to counter it. Measures of short-run expectations dropped in the crisis, particularly in advanced economies, but have since rebounded. Measures of long-run inflation expectations have in general fluctuated around a relatively stable level, suggesting continued central bank credibility. At the same time, dispersion and uncertainty measures of long-term inflation expectations are somewhat higher than before the crisis, raising questions about how firmly expectations are anchored.
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Bibliographic InfoArticle provided by Bank for International Settlements in its journal BIS Quarterly Review.
Volume (Year): (2011)
Issue (Month): (March)
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Wändi Bruine De Bruin & Charles F. Manski & Giorgio Topa & Wilbert van der Klaauw, 2011.
"Measuring consumer uncertainty about future inflation,"
Journal of Applied Econometrics,
John Wiley & Sons, Ltd., vol. 26(3), pages 454-478, 04.
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"Did the crisis affect inflation expectations?,"
DNB Working Papers
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BIS Working Papers
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- Boris Hofmann & Feng Zhu, 2013. "Central bank asset purchases and inflation expectations," BIS Quarterly Review, Bank for International Settlements, March.
- Oya Celasun & Lev Ratnovski & Roxana Mihet, 2012. "Commodity Prices and Inflation Expectations in the United States," IMF Working Papers 12/89, International Monetary Fund.
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