Inflation expectations and the great recession
This 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.
Volume (Year): (2011)
Issue (Month): (March)
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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.:
- Gabriela Galati & Steven Poelhekke & Chen Zhou, 2011.
"Did the Crisis Affect Inflation Expectations?,"
International Journal of Central Banking,
International Journal of Central Banking, vol. 7(1), pages 167-207, March.
- Wandi Bruine de Bruin & Charles F. Manski & Giorgio Topa & Wilbert Van der Klaauw, 2009.
"Measuring consumer uncertainty about future inflation,"
415, Federal Reserve Bank of New York.
- 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.
- Peter Hördahl & Oreste Tristani, 2010.
"Inflation risk premia in the US and the euro area,"
BIS Working Papers
325, Bank for International Settlements.
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