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 …

Central bank surveys frequently elicit households' probabilistic beliefs about future inflation. The responses provide … only a coarse picture of inflation beliefs further away from zero. Using data from the Bundesbank household panel, we show … that the current high-inflation environment induces respondents to allocate considerable probability to the rightmost open …

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 …

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 …

We study the effects of forward looking communication in an environment of rising inflation rates on German consumers …' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward looking information …

The study assessed the effect of inflation targeting (IT) policy on inflation uncertainty and economic growth in … Heteroscedasticity (GARCH) and Panel Vector Autoregressive (PVAR). To determine how the IT policy affects the inflation uncertainty in … selected countries, time series techniques were employed. Panel data approaches were used to determine the effect of inflation …