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Economic policy uncertainty and inflation expectations

Klodiana Istrefi () and Anamaria Piloiu

Rue de la Banque, 2016, issue 33

Abstract: This Rue de la Banque explores the dynamic relationship between uncertainty concerning economic policy and inflation expectations, for the US and the euro area, during the period 1999-2012. We find that, in response to an increase in policy uncertainty, economic activity contracts and short-term inflation expectations fall. Moreover, our results suggest that during this period, policy uncertainty posed risks to the anchoring of long-term inflation expectations.

Date: 2016
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Working Paper: Economic Policy Uncertainty and Inflation Expectations (2014) Downloads
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