| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6544 |
| DP6544 Determinants of Economic Growth: Will Data Tell? | |
| Antonio Ciccone; Marek Jarociński | |
| 发表日期 | 2007-10-26 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper compares the recent evolution of long-run inflation expectations in the euro area and the United States, using evidence from financial markets and surveys of professional forecasters. Survey data indicate that long-run inflation expectations are reasonably well-anchored in both economies, but also reveal substantially greater dispersion across forecasters? long-horizon projections of U.S. inflation. Daily data on inflation swaps and nominal-indexed bond spreads - which gauge compensation for expected inflation and inflation risk - also suggest that long-run inflation expectations are more firmly anchored in the euro area than in the United States. In particular, surprises in macroeconomic data releases have significant effects on U.S. forward inflation compensation, even at long horizons, whereas macroeconomic news only influences euro area inflation compensation at short horizons. |
| 主题 | International Macroeconomics |
| 关键词 | Central bank communication Ecb Euro-area inflation Inflation compensation |
| URL | https://cepr.org/publications/dp6544 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535383 |
| 推荐引用方式 GB/T 7714 | Antonio Ciccone,Marek Jarociński. DP6544 Determinants of Economic Growth: Will Data Tell?. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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