Inflation Target Credibility in Times of High Inflation
| Autor: | Winnie Coleman, Dieter Nautz |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2022 |
| Předmět: |
Economics and Econometrics
History Expectation Formation Polymers and Plastics Industrial and Manufacturing Engineering Credibility of Inflation Targets C83 300 Sozialwissenschaften::330 Wirtschaft::330 Wirtschaft ddc:330 Household Inflation Expectations E58 Business and International Management E52 Finance E31 |
| Popis: | We use a representative online survey to investigate the inflation expectations of German consumers and the credibility of the ECB’s inflation target during the recent high inflation period. We find that credibility has trended downwards since summer 2021, reaching an all-time low in April 2022. The high correlation between inflation expectations and the actual rate of inflation strongly indicate that inflation expectations have been de-anchored from the inflation target. With increasing inflation, German consumers are more convinced that - in contrast to the ECB’s inflation target - inflation will be well above 2% over the medium term. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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