The Anchoring of Inflation Expectations in the Short and in the Long Run
Dieter Nautz (),
Aleksei Netsunajew and
Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association
We introduce structural VAR analysis as a tool for investigating the anchoring of inflation expectations. We show that U.S. consumers’ inflation expectations are anchored in the long run because macro-news shocks are long-run neutral for long-term inflation expectations. The identification of structural shocks helps to explain why inflation expectations deviate from the central bank’s target.
JEL-codes: E31 E52 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-cta, nep-mac and nep-mon
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Journal Article: THE ANCHORING OF INFLATION EXPECTATIONS IN THE SHORT AND IN THE LONG RUN (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168075
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