Beechey, Meredith J.; Johannsen, Benjamin K.; Levin, … - Federal Reserve Board (Board of Governors of the … - 2008
This paper compares the recent evolution of long-run inflation expectations in the euro area and the United States … in the euro area than in the United States. In particular, surprises in macroeconomic data releases have significant … effects on U.S. forward inflation compensation, even at long horizons, whereas macroeconomic news only influences euro area …