February 20, 2019
CORE, room C035
! ! ! CANCELLED ! ! !
Inflation Expectations at the effective Lower Bound
Jean-Charles Wijnandts, UCLouvain LFIN
This paper extracts daily inflation expectations for the Euro Area from a joint model of nominal and inflation-linked swap contracts which enforces no-arbitrage restrictions. I quantify the impact of accounting properly for the time-varying effective lower bound on nominal interest rates when analyzing the evolution of medium-term inflation expectations during the recent period of low inflation in the Euro Area. This modeling contribution allows to assess the re-anchoring effect of unconventional monetary policies implemented by the European Central Bank.
Please fill the doodle by Tuesday Feb 19th at noon if you plan to attend and mention whether you would like a sandwich: