Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/122003
Authors: 
Pagenhardt, Laura
Nautz, Dieter
Strohsal, Till
Year of Publication: 
2015
Series/Report no.: 
SFB 649 Discussion Paper 2015-044
Abstract: 
Well-anchored inflation expectations are a key factor for achieving economic stability. This paper provides new empirical results on the anchoring of long-term inflation expectations in the euro area. In line with earlier evidence, we find that euro area inflation expectations have been anchored until fall 2011. Since then, however, they respond significantly to macroeconomic news. Our results obtained from multiple endogenous break point tests suggest that euro area inflation expectations have remained de-anchored ever since.
Subjects: 
Anchoring of Inflation Expectations
Break-Even Inflation Rates
News-Regressions
Multiple Structural Break Tests
JEL: 
E31
E52
E58
C22
Document Type: 
Working Paper

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