Deflation risk in the euro area and central bank credibility

C-Tier

Journal: Economics Letters

Year: 2018

Volume: 167

Issue: C

Pages: 124-126

Authors (4)

Galati, Gabriele (de Nederlandsche Bank) Gorgi, Zion (de Nederlandsche Bank) Moessner, Richhild (Bank for International Settlem...) Zhou, Chen (Erasmus Universiteit Rotterdam)

Score contribution per author:

0.251 = (α=2.01 / 4 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

We analyze a new option-based indicator of market perceptions of euro area deflation risks. We find that during 2010–2015, long-term deflation risks became slightly more sensitive to oil price changes and inflation surprises, suggesting a subtle weakening in anchoring.

Deflation risk in the euro area and central bank credibility

Authors (4)

Abstract

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