Market-based measures of inflation expectations can be derived either from the difference between yields on nominal and inflation-linked government bonds or from inflation swap rates. These measures are important indicators of the outlook for inflation and are monitored regularly by the United...

The existence of investors with non-pecuniary preferences for particular asset types is central to the discussion of both the rationale and efficacy of unconventional monetary policies. To date, these investors have had to be assumed or inferred indirectly. We use a novel and granular dataset on...

Most tests of preferred habitat theory are indirect; they infer the existence of preferred habitat behaviour in financial markets by examining the behaviour of asset prices. We instead identify preferred habitat behaviour directly from whether investors show a preference towards a particular...