Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/224081
Authors: 
Möhrle, Sascha
Year of Publication: 
2020
Series/Report no.: 
ifo Working Paper No. 337
Abstract: 
This paper examines the anchoring of inflation expectations in the euro area based on data from the Survey of Professional Forecasters (SPF). The analysis shows that the overall distribution of medium- and long-term inflation forecasts has changed considerably following the global financial crisis. Moreover, micro level expectations of professional forecasters are found to be sensitive to short-term economic developments. These patterns suggest that euro area inflation expectations are significantly less anchored to the ECB's definition of price stability in recent years compared to the pre-crisis period.
Subjects: 
inflation expectations
anchoring
euro area
ECB
financial crisis
JEL: 
E31
E52
E58
Document Type: 
Working Paper

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