inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the … dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the … policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime …

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 … since summer 2021, reaching an all-time low in April 2022. The high correlation between inflation expectations and the …

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter …

We propose a new approach to assessing the anchoring of inflation expectations using "strategic surveys". Namely, we … measure households' revisions in long-run inflation expectations after they are presented with different economic scenarios. A … key advantage of this approach is that it provides a causal interpretation in terms of how inflation events affect long …

inflation-forecast-based (IFB) rules. It shows that, for a variety of New Keynesian sticky-price and sticky-inflation models …, these are a function not just of the degree of responsiveness of the policy instrument to deviations of expected inflation …

We provide evidence on the reactions of the level and probability distribution of households’ expectations of inflation … in the euro area to the ECB’s monetary strategy change to a symmetric inflation target in July 2021, and to the … subsequent strong rise in euro area inflation above target. We use a randomised control trial within a monthly representative …

Evidence on the credibility of a central bank's inflation target typically refers to the anchoring of survey …-based measures of inflation expectations. However, both the survey question and the anchoring criteria are only loosely connected to … the actual inflation target used in monetary policy practice. By using the exact wording of the ECB's definition of price …

citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation … recession implied by the COVID-19 pandemic. Interestingly, even though inflation rates in Germany have been clearly below 2% for … several years, credibility has declined mainly because Germans increasingly expect that inflation will be much higher than 2 …