Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146928
Authors: 
Rieth, Malte
Gehrt, Lisa
Year of Publication: 
2016
Citation: 
[Journal:] DIW Economic Bulletin [ISSN:] 2192-7219 [Volume:] 6 [Year:] 2016 [Issue:] 38 [Pages:] 463-469
Abstract: 
Facing deflationary threats, the ECB has engaged in several forms of asset purchase programs to fulfill its mandate of maintaining price stability. A main objective of these programs is raising inflation expectations, as these are a main determinant of actual inflation. This study empirically evaluates the effectiveness of these ECB policies in raisinginflation expectations. The results suggest that the ECB announcements of asset purchase programs significantly increased the expected inflation in the euro area, albeit to a quantitatively modest extent. All in all, inflation expectations were raised by 20 to 30 basis points.
Subjects: 
monetary policy
transmission
euro area
regression analysis
JEL: 
E52
E31
E58
Document Type: 
Article

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