Gerlach-Kristen, Petra; Mössner, Richhild - In: Swiss Journal of Economics and Statistics 150 (2014) 2, pp. 55-87
Long-run inflation expectations should not respond to economic news if the central bank is seen as credibly committed …-term inflation expectations implied by inflation swaps in the euro area, United Kingdom and United States have become less responsive … introduction of explicit forward guidance at the zero lower bound. We also find an increase in autocorrelation of inflation …