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.:
- Hördahl, Peter & Tristani, Oreste, 2010.
"Inflation risk premia in the US and the euro area,"
Working Paper Series
1270, European Central Bank.
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- 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.
- Wandi Bruine de Bruin & Charles F. Manski & Giorgio Topa & Wilbert Van der Klaauw, 2009. "Measuring consumer uncertainty about future inflation," Staff Reports 415, Federal Reserve Bank of New York.
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