Beechey, Meredith J; Johannsen, Benjamin K; Levin, Andrew - C.E.P.R. Discussion Papers - 2007
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 …