This paper analyzes monetary policy in a model with a potential unanchoring of inflation expectations. The degree of … unanchoring is given by how sensitively the public’s long-run inflation expectations respond to inflation surprises. I find that … inflation fluctuations when expectations are well-anchored. Furthermore, I estimate the model-implied relationship that …

. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust … on the extent to which this new outreach does in fact affect inflation expectations and trust. On balance, we see some …

This paper examines whether central bank communication stabilises euro area inflation expectations through the … communication on the information demand of the public and ultimately on inflation expectations. Overall, this study shows that … website attention, as captured by search volumes of visitors, influences euro area inflation expectations. We find that …

We show that the announcement of the ECB’s Strategy Review and the revision of its inflation target in summer 2021 went … persistent credibility gains, even after inflation increased …

's ability to form realistic inflation expectations …

A crucial but often ignored element of inflation expectations is the amount of perceived inflation risk. This paper …) using a new methodology. The main conclusion from our analysis is that, when monitoring inflation expectations, limiting … attention to a point prediction is not sufficient. The analysis of inflation expectations should take into account inflation …

find a higher average forecast accuracy of models that incorporate information on inflation expectations from the ECB’s SPF … and Consensus Economics compared to their counterparts that do not. The gains in forecast accuracy from incorporating … inflation expectations are typically not large but significant in some periods. Both short- and long-term expectations provide …

Assigning a discretionary central bank a mandate to stabilize an average inflation rate—rather than a period …-by-period inflation rate—increases welfare in a New Keynesian model with an occasionally binding lower bound on nominal interest rates … inflation targeting (AIT) is equivalent to price level targeting (PLT). However, AIT with a finite, but sufficiently long …