This paper investigates the heterogeneity of inflation expectations among households, firms, and professionals across …, highlighting the role of media in expectation formation. We find that inflation expectations became more backward-looking during … 14 economies. Using Bayesian model averaging and panel data regressions, we identify key determinants of inflation …

We study how households adjust their medium-term inflation expectations under the new ECB inflation targeting strategy …

choice where the level of attention to inflation varies along the income distribution. Compared to fully rational inflation … expectations, we find that the economy faces a less severe recession after a monetary policy tightening when households …

forecasters to raise their inflation expectations, consistent with Delphic effects. Only professional forecasters respond to …

This paper analyzes market-based probability distributions for long-run inflation expectations derived from inflation …