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Finance and Economics Discussion Series: 2008-23 Screen Reader version

Are Long-Run Inflation Expectations Anchored More Firmly
in the Euro Area than in the United States?


Meredith J. Beechey, Benjamin K. Johannsen, and Andrew T. Levin
27 September 2007



Figure 1, Panel 1 Data: Euro Area (part 1)
DateMean long-run HICP expectation
2000Q11.8
2000Q21.8
2000Q31.8
2000Q41.8
2001Q11.8
2001Q21.8
2001Q31.8
2001Q41.8
2002Q11.9
2002Q21.9
2002Q31.9
2002Q41.9
2003Q11.9
2003Q21.9
2003Q31.9
2003Q41.9
2004Q11.9
2004Q21.9
2004Q31.9
2004Q41.9
2005Q11.9
2005Q21.9
2005Q31.9
2005Q41.9
2006Q11.9
2006Q21.9
2006Q31.9
2006Q41.9
Return to Figure
Figure 1, Panel 1 Data: Euro Area (part 2)
DateMinimum Bid Rate
28-Jun-004.25
29-Jun-004.25
30-Jun-004.25
3-Jul-004.25
4-Jul-004.25
5-Jul-004.25
6-Jul-004.25
7-Jul-004.25
10-Jul-004.25
11-Jul-004.25
12-Jul-004.25
13-Jul-004.25
14-Jul-004.25
17-Jul-004.25
18-Jul-004.25
19-Jul-004.25
20-Jul-004.25
21-Jul-004.25
24-Jul-004.25
25-Jul-004.25
26-Jul-004.25
27-Jul-004.25
28-Jul-004.25
31-Jul-004.25
1-Aug-004.25
2-Aug-004.25
3-Aug-004.25
4-Aug-004.25
7-Aug-004.25
8-Aug-004.25
9-Aug-004.25
10-Aug-004.25
11-Aug-004.25
14-Aug-004.25
15-Aug-004.25
16-Aug-004.25
17-Aug-004.25
18-Aug-004.25
21-Aug-004.25
22-Aug-004.25
23-Aug-004.25
24-Aug-004.25
25-Aug-004.25
28-Aug-004.25
29-Aug-004.25
30-Aug-004.25
31-Aug-004.25
1-Sep-004.5
4-Sep-004.5
5-Sep-004.5
6-Sep-004.5
7-Sep-004.5
8-Sep-004.5
11-Sep-004.5
12-Sep-004.5
13-Sep-004.5
14-Sep-004.5
15-Sep-004.5
18-Sep-004.5
19-Sep-004.5
20-Sep-004.5
21-Sep-004.5
22-Sep-004.5
25-Sep-004.5
26-Sep-004.5
27-Sep-004.5
28-Sep-004.5
29-Sep-004.5
2-Oct-004.5
3-Oct-004.5
4-Oct-004.5
5-Oct-004.5
6-Oct-004.75
9-Oct-004.75
10-Oct-004.75
11-Oct-004.75
12-Oct-004.75
13-Oct-004.75
16-Oct-004.75
17-Oct-004.75
18-Oct-004.75
19-Oct-004.75
20-Oct-004.75
23-Oct-004.75
24-Oct-004.75
25-Oct-004.75
26-Oct-004.75
27-Oct-004.75
30-Oct-004.75
31-Oct-004.75
1-Nov-004.75
2-Nov-004.75
3-Nov-004.75
6-Nov-004.75
7-Nov-004.75
8-Nov-004.75
9-Nov-004.75
10-Nov-004.75
13-Nov-004.75
14-Nov-004.75
15-Nov-004.75
16-Nov-004.75
17-Nov-004.75
20-Nov-004.75
21-Nov-004.75
22-Nov-004.75
23-Nov-004.75
24-Nov-004.75
27-Nov-004.75
28-Nov-004.75
29-Nov-004.75
30-Nov-004.75
1-Dec-004.75
4-Dec-004.75
5-Dec-004.75
6-Dec-004.75
7-Dec-004.75
8-Dec-004.75
11-Dec-004.75
12-Dec-004.75
13-Dec-004.75
14-Dec-004.75
15-Dec-004.75
18-Dec-004.75
19-Dec-004.75
20-Dec-004.75
21-Dec-004.75
22-Dec-004.75
25-Dec-004.75
26-Dec-004.75
27-Dec-004.75
28-Dec-004.75
29-Dec-004.75
1-Jan-014.75
2-Jan-014.75
3-Jan-014.75
4-Jan-014.75
5-Jan-014.75
8-Jan-014.75
9-Jan-014.75
10-Jan-014.75
11-Jan-014.75
12-Jan-014.75
15-Jan-014.75
16-Jan-014.75
17-Jan-014.75
18-Jan-014.75
19-Jan-014.75
22-Jan-014.75
23-Jan-014.75
24-Jan-014.75
25-Jan-014.75
26-Jan-014.75
29-Jan-014.75
30-Jan-014.75
31-Jan-014.75
1-Feb-014.75
2-Feb-014.75
5-Feb-014.75
6-Feb-014.75
7-Feb-014.75
8-Feb-014.75
9-Feb-014.75
12-Feb-014.75
13-Feb-014.75
14-Feb-014.75
15-Feb-014.75
16-Feb-014.75
19-Feb-014.75
20-Feb-014.75
21-Feb-014.75
22-Feb-014.75
23-Feb-014.75
26-Feb-014.75
27-Feb-014.75
28-Feb-014.75
1-Mar-014.75
2-Mar-014.75
5-Mar-014.75
6-Mar-014.75
7-Mar-014.75
8-Mar-014.75
9-Mar-014.75
12-Mar-014.75
13-Mar-014.75
14-Mar-014.75
15-Mar-014.75
16-Mar-014.75
19-Mar-014.75
20-Mar-014.75
21-Mar-014.75
22-Mar-014.75
23-Mar-014.75
26-Mar-014.75
27-Mar-014.75
28-Mar-014.75
29-Mar-014.75
30-Mar-014.75
2-Apr-014.75
3-Apr-014.75
4-Apr-014.75
5-Apr-014.75
6-Apr-014.75
9-Apr-014.75
10-Apr-014.75
11-Apr-014.75
12-Apr-014.75
13-Apr-014.75
16-Apr-014.75
17-Apr-014.75
18-Apr-014.75
19-Apr-014.75
20-Apr-014.75
23-Apr-014.75
24-Apr-014.75
25-Apr-014.75
26-Apr-014.75
27-Apr-014.75
30-Apr-014.75
1-May-014.75
2-May-014.75
3-May-014.75
4-May-014.75
7-May-014.75
8-May-014.75
9-May-014.75
10-May-014.75
11-May-014.5
14-May-014.5
15-May-014.5
16-May-014.5
17-May-014.5
18-May-014.5
21-May-014.5
22-May-014.5
23-May-014.5
24-May-014.5
25-May-014.5
28-May-014.5
29-May-014.5
30-May-014.5
31-May-014.5
1-Jun-014.5
4-Jun-014.5
5-Jun-014.5
6-Jun-014.5
7-Jun-014.5
8-Jun-014.5
11-Jun-014.5
12-Jun-014.5
13-Jun-014.5
14-Jun-014.5
15-Jun-014.5
18-Jun-014.5
19-Jun-014.5
20-Jun-014.5
21-Jun-014.5
22-Jun-014.5
25-Jun-014.5
26-Jun-014.5
27-Jun-014.5
28-Jun-014.5
29-Jun-014.5
2-Jul-014.5
3-Jul-014.5
4-Jul-014.5
5-Jul-014.5
6-Jul-014.5
9-Jul-014.5
10-Jul-014.5
11-Jul-014.5
12-Jul-014.5
13-Jul-014.5
16-Jul-014.5
17-Jul-014.5
18-Jul-014.5
19-Jul-014.5
20-Jul-014.5
23-Jul-014.5
24-Jul-014.5
25-Jul-014.5
26-Jul-014.5
27-Jul-014.5
30-Jul-014.5
31-Jul-014.5
1-Aug-014.5
2-Aug-014.5
3-Aug-014.5
6-Aug-014.5
7-Aug-014.5
8-Aug-014.5
9-Aug-014.5
10-Aug-014.5
13-Aug-014.5
14-Aug-014.5
15-Aug-014.5
16-Aug-014.5
17-Aug-014.5
20-Aug-014.5
21-Aug-014.5
22-Aug-014.5
23-Aug-014.5
24-Aug-014.5
27-Aug-014.5
28-Aug-014.5
29-Aug-014.5
30-Aug-014.5
31-Aug-014.25
3-Sep-014.25
4-Sep-014.25
5-Sep-014.25
6-Sep-014.25
7-Sep-014.25
10-Sep-014.25
11-Sep-014.25
12-Sep-014.25
13-Sep-014.25
14-Sep-014.25
17-Sep-014.25
18-Sep-013.75
19-Sep-013.75
20-Sep-013.75
21-Sep-013.75
24-Sep-013.75
25-Sep-013.75
26-Sep-013.75
27-Sep-013.75
28-Sep-013.75
1-Oct-013.75
2-Oct-013.75
3-Oct-013.75
4-Oct-013.75
5-Oct-013.75
8-Oct-013.75
9-Oct-013.75
10-Oct-013.75
11-Oct-013.75
12-Oct-013.75
15-Oct-013.75
16-Oct-013.75
17-Oct-013.75
18-Oct-013.75
19-Oct-013.75
22-Oct-013.75
23-Oct-013.75
24-Oct-013.75
25-Oct-013.75
26-Oct-013.75
29-Oct-013.75
30-Oct-013.75
31-Oct-013.75
1-Nov-013.75
2-Nov-013.75
5-Nov-013.75
6-Nov-013.75
7-Nov-013.75
8-Nov-013.75
9-Nov-013.25
12-Nov-013.25
13-Nov-013.25
14-Nov-013.25
15-Nov-013.25
16-Nov-013.25
19-Nov-013.25
20-Nov-013.25
21-Nov-013.25
22-Nov-013.25
23-Nov-013.25
26-Nov-013.25
27-Nov-013.25
28-Nov-013.25
29-Nov-013.25
30-Nov-013.25
3-Dec-013.25
4-Dec-013.25
5-Dec-013.25
6-Dec-013.25
7-Dec-013.25
10-Dec-013.25
11-Dec-013.25
12-Dec-013.25
13-Dec-013.25
14-Dec-013.25
17-Dec-013.25
18-Dec-013.25
19-Dec-013.25
20-Dec-013.25
21-Dec-013.25
24-Dec-013.25
25-Dec-013.25
26-Dec-013.25
27-Dec-013.25
28-Dec-013.25
31-Dec-013.25
1-Jan-023.25
2-Jan-023.25
3-Jan-023.25
4-Jan-023.25
7-Jan-023.25
8-Jan-023.25
9-Jan-023.25
10-Jan-023.25
11-Jan-023.25
14-Jan-023.25
15-Jan-023.25
16-Jan-023.25
17-Jan-023.25
18-Jan-023.25
21-Jan-023.25
22-Jan-023.25
23-Jan-023.25
24-Jan-023.25
25-Jan-023.25
28-Jan-023.25
29-Jan-023.25
30-Jan-023.25
31-Jan-023.25
1-Feb-023.25
4-Feb-023.25
5-Feb-023.25
6-Feb-023.25
7-Feb-023.25
8-Feb-023.25
11-Feb-023.25
12-Feb-023.25
13-Feb-023.25
14-Feb-023.25
15-Feb-023.25
18-Feb-023.25
19-Feb-023.25
20-Feb-023.25
21-Feb-023.25
22-Feb-023.25
25-Feb-023.25
26-Feb-023.25
27-Feb-023.25
28-Feb-023.25
1-Mar-023.25
4-Mar-023.25
5-Mar-023.25
6-Mar-023.25
7-Mar-023.25
8-Mar-023.25
11-Mar-023.25
12-Mar-023.25
13-Mar-023.25
14-Mar-023.25
15-Mar-023.25
18-Mar-023.25
19-Mar-023.25
20-Mar-023.25
21-Mar-023.25
22-Mar-023.25
25-Mar-023.25
26-Mar-023.25
27-Mar-023.25
28-Mar-023.25
29-Mar-023.25
1-Apr-023.25
2-Apr-023.25
3-Apr-023.25
4-Apr-023.25
5-Apr-023.25
8-Apr-023.25
9-Apr-023.25
10-Apr-023.25
11-Apr-023.25
12-Apr-023.25
15-Apr-023.25
16-Apr-023.25
17-Apr-023.25
18-Apr-023.25
19-Apr-023.25
22-Apr-023.25
23-Apr-023.25
24-Apr-023.25
25-Apr-023.25
26-Apr-023.25
29-Apr-023.25
30-Apr-023.25
1-May-023.25
2-May-023.25
3-May-023.25
6-May-023.25
7-May-023.25
8-May-023.25
9-May-023.25
10-May-023.25
13-May-023.25
14-May-023.25
15-May-023.25
16-May-023.25
17-May-023.25
20-May-023.25
21-May-023.25
22-May-023.25
23-May-023.25
24-May-023.25
27-May-023.25
28-May-023.25
29-May-023.25
30-May-023.25
31-May-023.25
3-Jun-023.25
4-Jun-023.25
5-Jun-023.25
6-Jun-023.25
7-Jun-023.25
10-Jun-023.25
11-Jun-023.25
12-Jun-023.25
13-Jun-023.25
14-Jun-023.25
17-Jun-023.25
18-Jun-023.25
19-Jun-023.25
20-Jun-023.25
21-Jun-023.25
24-Jun-023.25
25-Jun-023.25
26-Jun-023.25
27-Jun-023.25
28-Jun-023.25
1-Jul-023.25
2-Jul-023.25
3-Jul-023.25
4-Jul-023.25
5-Jul-023.25
8-Jul-023.25
9-Jul-023.25
10-Jul-023.25
11-Jul-023.25
12-Jul-023.25
15-Jul-023.25
16-Jul-023.25
17-Jul-023.25
18-Jul-023.25
19-Jul-023.25
22-Jul-023.25
23-Jul-023.25
24-Jul-023.25
25-Jul-023.25
26-Jul-023.25
29-Jul-023.25
30-Jul-023.25
31-Jul-023.25
1-Aug-023.25
2-Aug-023.25
5-Aug-023.25
6-Aug-023.25
7-Aug-023.25
8-Aug-023.25
9-Aug-023.25
12-Aug-023.25
13-Aug-023.25
14-Aug-023.25
15-Aug-023.25
16-Aug-023.25
19-Aug-023.25
20-Aug-023.25
21-Aug-023.25
22-Aug-023.25
23-Aug-023.25
26-Aug-023.25
27-Aug-023.25
28-Aug-023.25
29-Aug-023.25
30-Aug-023.25
2-Sep-023.25
3-Sep-023.25
4-Sep-023.25
5-Sep-023.25
6-Sep-023.25
9-Sep-023.25
10-Sep-023.25
11-Sep-023.25
12-Sep-023.25
13-Sep-023.25
16-Sep-023.25
17-Sep-023.25
18-Sep-023.25
19-Sep-023.25
20-Sep-023.25
23-Sep-023.25
24-Sep-023.25
25-Sep-023.25
26-Sep-023.25
27-Sep-023.25
30-Sep-023.25
1-Oct-023.25
2-Oct-023.25
3-Oct-023.25
4-Oct-023.25
7-Oct-023.25
8-Oct-023.25
9-Oct-023.25
10-Oct-023.25
11-Oct-023.25
14-Oct-023.25
15-Oct-023.25
16-Oct-023.25
17-Oct-023.25
18-Oct-023.25
21-Oct-023.25
22-Oct-023.25
23-Oct-023.25
24-Oct-023.25
25-Oct-023.25
28-Oct-023.25
29-Oct-023.25
30-Oct-023.25
31-Oct-023.25
1-Nov-023.25
4-Nov-023.25
5-Nov-023.25
6-Nov-023.25
7-Nov-023.25
8-Nov-023.25
11-Nov-023.25
12-Nov-023.25
13-Nov-023.25
14-Nov-023.25
15-Nov-023.25
18-Nov-023.25
19-Nov-023.25
20-Nov-023.25
21-Nov-023.25
22-Nov-023.25
25-Nov-023.25
26-Nov-023.25
27-Nov-023.25
28-Nov-023.25
29-Nov-023.25
2-Dec-023.25
3-Dec-023.25
4-Dec-023.25
5-Dec-023.25
6-Dec-022.75
9-Dec-022.75
10-Dec-022.75
11-Dec-022.75
12-Dec-022.75
13-Dec-022.75
16-Dec-022.75
17-Dec-022.75
18-Dec-022.75
19-Dec-022.75
20-Dec-022.75
23-Dec-022.75
24-Dec-022.75
25-Dec-022.75
26-Dec-022.75
27-Dec-022.75
30-Dec-022.75
31-Dec-022.75
1-Jan-032.75
2-Jan-032.75
3-Jan-032.75
6-Jan-032.75
7-Jan-032.75
8-Jan-032.75
9-Jan-032.75
10-Jan-032.75
13-Jan-032.75
14-Jan-032.75
15-Jan-032.75
16-Jan-032.75
17-Jan-032.75
20-Jan-032.75
21-Jan-032.75
22-Jan-032.75
23-Jan-032.75
24-Jan-032.75
27-Jan-032.75
28-Jan-032.75
29-Jan-032.75
30-Jan-032.75
31-Jan-032.75
3-Feb-032.75
4-Feb-032.75
5-Feb-032.75
6-Feb-032.75
7-Feb-032.75
10-Feb-032.75
11-Feb-032.75
12-Feb-032.75
13-Feb-032.75
14-Feb-032.75
17-Feb-032.75
18-Feb-032.75
19-Feb-032.75
20-Feb-032.75
21-Feb-032.75
24-Feb-032.75
25-Feb-032.75
26-Feb-032.75
27-Feb-032.75
28-Feb-032.75
3-Mar-032.75
4-Mar-032.75
5-Mar-032.75
6-Mar-032.75
7-Mar-032.5
10-Mar-032.5
11-Mar-032.5
12-Mar-032.5
13-Mar-032.5
14-Mar-032.5
17-Mar-032.5
18-Mar-032.5
19-Mar-032.5
20-Mar-032.5
21-Mar-032.5
24-Mar-032.5
25-Mar-032.5
26-Mar-032.5
27-Mar-032.5
28-Mar-032.5
31-Mar-032.5
1-Apr-032.5
2-Apr-032.5
3-Apr-032.5
4-Apr-032.5
7-Apr-032.5
8-Apr-032.5
9-Apr-032.5
10-Apr-032.5
11-Apr-032.5
14-Apr-032.5
15-Apr-032.5
16-Apr-032.5
17-Apr-032.5
18-Apr-032.5
21-Apr-032.5
22-Apr-032.5
23-Apr-032.5
24-Apr-032.5
25-Apr-032.5
28-Apr-032.5
29-Apr-032.5
30-Apr-032.5
1-May-032.5
2-May-032.5
5-May-032.5
6-May-032.5
7-May-032.5
8-May-032.5
9-May-032.5
12-May-032.5
13-May-032.5
14-May-032.5
15-May-032.5
16-May-032.5
19-May-032.5
20-May-032.5
21-May-032.5
22-May-032.5
23-May-032.5
26-May-032.5
27-May-032.5
28-May-032.5
29-May-032.5
30-May-032.5
2-Jun-032.5
3-Jun-032.5
4-Jun-032.5
5-Jun-032.5
6-Jun-032
9-Jun-032
10-Jun-032
11-Jun-032
12-Jun-032
13-Jun-032
16-Jun-032
17-Jun-032
18-Jun-032
19-Jun-032
20-Jun-032
23-Jun-032
24-Jun-032
25-Jun-032
26-Jun-032
27-Jun-032
30-Jun-032
1-Jul-032
2-Jul-032
3-Jul-032
4-Jul-032
7-Jul-032
8-Jul-032
9-Jul-032
10-Jul-032
11-Jul-032
14-Jul-032
15-Jul-032
16-Jul-032
17-Jul-032
18-Jul-032
21-Jul-032
22-Jul-032
23-Jul-032
24-Jul-032
25-Jul-032
28-Jul-032
29-Jul-032
30-Jul-032
31-Jul-032
1-Aug-032
4-Aug-032
5-Aug-032
6-Aug-032
7-Aug-032
8-Aug-032
11-Aug-032
12-Aug-032
13-Aug-032
14-Aug-032
15-Aug-032
18-Aug-032
19-Aug-032
20-Aug-032
21-Aug-032
22-Aug-032
25-Aug-032
26-Aug-032
27-Aug-032
28-Aug-032
29-Aug-032
1-Sep-032
2-Sep-032
3-Sep-032
4-Sep-032
5-Sep-032
8-Sep-032
9-Sep-032
10-Sep-032
11-Sep-032
12-Sep-032
15-Sep-032
16-Sep-032
17-Sep-032
18-Sep-032
19-Sep-032
22-Sep-032
23-Sep-032
24-Sep-032
25-Sep-032
26-Sep-032
29-Sep-032
30-Sep-032
1-Oct-032
2-Oct-032
3-Oct-032
6-Oct-032
7-Oct-032
8-Oct-032
9-Oct-032
10-Oct-032
13-Oct-032
14-Oct-032
15-Oct-032
16-Oct-032
17-Oct-032
20-Oct-032
21-Oct-032
22-Oct-032
23-Oct-032
24-Oct-032
27-Oct-032
28-Oct-032
29-Oct-032
30-Oct-032
31-Oct-032
3-Nov-032
4-Nov-032
5-Nov-032
6-Nov-032
7-Nov-032
10-Nov-032
11-Nov-032
12-Nov-032
13-Nov-032
14-Nov-032
17-Nov-032
18-Nov-032
19-Nov-032
20-Nov-032
21-Nov-032
24-Nov-032
25-Nov-032
26-Nov-032
27-Nov-032
28-Nov-032
1-Dec-032
2-Dec-032
3-Dec-032
4-Dec-032
5-Dec-032
8-Dec-032
9-Dec-032
10-Dec-032
11-Dec-032
12-Dec-032
15-Dec-032
16-Dec-032
17-Dec-032
18-Dec-032
19-Dec-032
22-Dec-032
23-Dec-032
24-Dec-032
25-Dec-032
26-Dec-032
29-Dec-032
30-Dec-032
31-Dec-032
1-Jan-042
2-Jan-042
5-Jan-042
6-Jan-042
7-Jan-042
8-Jan-042
9-Jan-042
12-Jan-042
13-Jan-042
14-Jan-042
15-Jan-042
16-Jan-042
19-Jan-042
20-Jan-042
21-Jan-042
22-Jan-042
23-Jan-042
26-Jan-042
27-Jan-042
28-Jan-042
29-Jan-042
30-Jan-042
2-Feb-042
3-Feb-042
4-Feb-042
5-Feb-042
6-Feb-042
9-Feb-042
10-Feb-042
11-Feb-042
12-Feb-042
13-Feb-042
16-Feb-042
17-Feb-042
18-Feb-042
19-Feb-042
20-Feb-042
23-Feb-042
24-Feb-042
25-Feb-042
26-Feb-042
27-Feb-042
1-Mar-042
2-Mar-042
3-Mar-042
4-Mar-042
5-Mar-042
8-Mar-042
9-Mar-042
10-Mar-042
11-Mar-042
12-Mar-042
15-Mar-042
16-Mar-042
17-Mar-042
18-Mar-042
19-Mar-042
22-Mar-042
23-Mar-042
24-Mar-042
25-Mar-042
26-Mar-042
29-Mar-042
30-Mar-042
31-Mar-042
1-Apr-042
2-Apr-042
5-Apr-042
6-Apr-042
7-Apr-042
8-Apr-042
9-Apr-042
12-Apr-042
13-Apr-042
14-Apr-042
15-Apr-042
16-Apr-042
19-Apr-042
20-Apr-042
21-Apr-042
22-Apr-042
23-Apr-042
26-Apr-042
27-Apr-042
28-Apr-042
29-Apr-042
30-Apr-042
3-May-042
4-May-042
5-May-042
6-May-042
7-May-042
10-May-042
11-May-042
12-May-042
13-May-042
14-May-042
17-May-042
18-May-042
19-May-042
20-May-042
21-May-042
24-May-042
25-May-042
26-May-042
27-May-042
28-May-042
31-May-042
1-Jun-042
2-Jun-042
3-Jun-042
4-Jun-042
7-Jun-042
8-Jun-042
9-Jun-042
10-Jun-042
11-Jun-042
14-Jun-042
15-Jun-042
16-Jun-042
17-Jun-042
18-Jun-042
21-Jun-042
22-Jun-042
23-Jun-042
24-Jun-042
25-Jun-042
28-Jun-042
29-Jun-042
30-Jun-042
1-Jul-042
2-Jul-042
5-Jul-042
6-Jul-042
7-Jul-042
8-Jul-042
9-Jul-042
12-Jul-042
13-Jul-042
14-Jul-042
15-Jul-042
16-Jul-042
19-Jul-042
20-Jul-042
21-Jul-042
22-Jul-042
23-Jul-042
26-Jul-042
27-Jul-042
28-Jul-042
29-Jul-042
30-Jul-042
2-Aug-042
3-Aug-042
4-Aug-042
5-Aug-042
6-Aug-042
9-Aug-042
10-Aug-042
11-Aug-042
12-Aug-042
13-Aug-042
16-Aug-042
17-Aug-042
18-Aug-042
19-Aug-042
20-Aug-042
23-Aug-042
24-Aug-042
25-Aug-042
26-Aug-042
27-Aug-042
30-Aug-042
31-Aug-042
1-Sep-042
2-Sep-042
3-Sep-042
6-Sep-042
7-Sep-042
8-Sep-042
9-Sep-042
10-Sep-042
13-Sep-042
14-Sep-042
15-Sep-042
16-Sep-042
17-Sep-042
20-Sep-042
21-Sep-042
22-Sep-042
23-Sep-042
24-Sep-042
27-Sep-042
28-Sep-042
29-Sep-042
30-Sep-042
1-Oct-042
4-Oct-042
5-Oct-042
6-Oct-042
7-Oct-042
8-Oct-042
11-Oct-042
12-Oct-042
13-Oct-042
14-Oct-042
15-Oct-042
18-Oct-042
19-Oct-042
20-Oct-042
21-Oct-042
22-Oct-042
25-Oct-042
26-Oct-042
27-Oct-042
28-Oct-042
29-Oct-042
1-Nov-042
2-Nov-042
3-Nov-042
4-Nov-042
5-Nov-042
8-Nov-042
9-Nov-042
10-Nov-042
11-Nov-042
12-Nov-042
15-Nov-042
16-Nov-042
17-Nov-042
18-Nov-042
19-Nov-042
22-Nov-042
23-Nov-042
24-Nov-042
25-Nov-042
26-Nov-042
29-Nov-042
30-Nov-042
1-Dec-042
2-Dec-042
3-Dec-042
6-Dec-042
7-Dec-042
8-Dec-042
9-Dec-042
10-Dec-042
13-Dec-042
14-Dec-042
15-Dec-042
16-Dec-042
17-Dec-042
20-Dec-042
21-Dec-042
22-Dec-042
23-Dec-042
24-Dec-042
27-Dec-042
28-Dec-042
29-Dec-042
30-Dec-042
31-Dec-042
3-Jan-052
4-Jan-052
5-Jan-052
6-Jan-052
7-Jan-052
10-Jan-052
11-Jan-052
12-Jan-052
13-Jan-052
14-Jan-052
17-Jan-052
18-Jan-052
19-Jan-052
20-Jan-052
21-Jan-052
24-Jan-052
25-Jan-052
26-Jan-052
27-Jan-052
28-Jan-052
31-Jan-052
1-Feb-052
2-Feb-052
3-Feb-052
4-Feb-052
7-Feb-052
8-Feb-052
9-Feb-052
10-Feb-052
11-Feb-052
14-Feb-052
15-Feb-052
16-Feb-052
17-Feb-052
18-Feb-052
21-Feb-052
22-Feb-052
23-Feb-052
24-Feb-052
25-Feb-052
28-Feb-052
1-Mar-052
2-Mar-052
3-Mar-052
4-Mar-052
7-Mar-052
8-Mar-052
9-Mar-052
10-Mar-052
11-Mar-052
14-Mar-052
15-Mar-052
16-Mar-052
17-Mar-052
18-Mar-052
21-Mar-052
22-Mar-052
23-Mar-052
24-Mar-052
25-Mar-052
28-Mar-052
29-Mar-052
30-Mar-052
31-Mar-052
1-Apr-052
4-Apr-052
5-Apr-052
6-Apr-052
7-Apr-052
8-Apr-052
11-Apr-052
12-Apr-052
13-Apr-052
14-Apr-052
15-Apr-052
18-Apr-052
19-Apr-052
20-Apr-052
21-Apr-052
22-Apr-052
25-Apr-052
26-Apr-052
27-Apr-052
28-Apr-052
29-Apr-052
2-May-052
3-May-052
4-May-052
5-May-052
6-May-052
9-May-052
10-May-052
11-May-052
12-May-052
13-May-052
16-May-052
17-May-052
18-May-052
19-May-052
20-May-052
23-May-052
24-May-052
25-May-052
26-May-052
27-May-052
30-May-052
31-May-052
1-Jun-052
2-Jun-052
3-Jun-052
6-Jun-052
7-Jun-052
8-Jun-052
9-Jun-052
10-Jun-052
13-Jun-052
14-Jun-052
15-Jun-052
16-Jun-052
17-Jun-052
20-Jun-052
21-Jun-052
22-Jun-052
23-Jun-052
24-Jun-052
27-Jun-052
28-Jun-052
29-Jun-052
30-Jun-052
1-Jul-052
4-Jul-052
5-Jul-052
6-Jul-052
7-Jul-052
8-Jul-052
11-Jul-052
12-Jul-052
13-Jul-052
14-Jul-052
15-Jul-052
18-Jul-052
19-Jul-052
20-Jul-052
21-Jul-052
22-Jul-052
25-Jul-052
26-Jul-052
27-Jul-052
28-Jul-052
29-Jul-052
1-Aug-052
2-Aug-052
3-Aug-052
4-Aug-052
5-Aug-052
8-Aug-052
9-Aug-052
10-Aug-052
11-Aug-052
12-Aug-052
15-Aug-052
16-Aug-052
17-Aug-052
18-Aug-052
19-Aug-052
22-Aug-052
23-Aug-052
24-Aug-052
25-Aug-052
26-Aug-052
29-Aug-052
30-Aug-052
31-Aug-052
1-Sep-052
2-Sep-052
5-Sep-052
6-Sep-052
7-Sep-052
8-Sep-052
9-Sep-052
12-Sep-052
13-Sep-052
14-Sep-052
15-Sep-052
16-Sep-052
19-Sep-052
20-Sep-052
21-Sep-052
22-Sep-052
23-Sep-052
26-Sep-052
27-Sep-052
28-Sep-052
29-Sep-052
30-Sep-052
3-Oct-052
4-Oct-052
5-Oct-052
6-Oct-052
7-Oct-052
10-Oct-052
11-Oct-052
12-Oct-052
13-Oct-052
14-Oct-052
17-Oct-052
18-Oct-052
19-Oct-052
20-Oct-052
21-Oct-052
24-Oct-052
25-Oct-052
26-Oct-052
27-Oct-052
28-Oct-052
31-Oct-052
1-Nov-052
2-Nov-052
3-Nov-052
4-Nov-052
7-Nov-052
8-Nov-052
9-Nov-052
10-Nov-052
11-Nov-052
14-Nov-052
15-Nov-052
16-Nov-052
17-Nov-052
18-Nov-052
21-Nov-052
22-Nov-052
23-Nov-052
24-Nov-052
25-Nov-052
28-Nov-052
29-Nov-052
30-Nov-052
1-Dec-052
2-Dec-052
5-Dec-052
6-Dec-052.25
7-Dec-052.25
8-Dec-052.25
9-Dec-052.25
12-Dec-052.25
13-Dec-052.25
14-Dec-052.25
15-Dec-052.25
16-Dec-052.25
19-Dec-052.25
20-Dec-052.25
21-Dec-052.25
22-Dec-052.25
23-Dec-052.25
26-Dec-052.25
27-Dec-052.25
28-Dec-052.25
29-Dec-052.25
30-Dec-052.25
2-Jan-062.25
3-Jan-062.25
4-Jan-062.25
5-Jan-062.25
6-Jan-062.25
9-Jan-062.25
10-Jan-062.25
11-Jan-062.25
12-Jan-062.25
13-Jan-062.25
16-Jan-062.25
17-Jan-062.25
18-Jan-062.25
19-Jan-062.25
20-Jan-062.25
23-Jan-062.25
24-Jan-062.25
25-Jan-062.25
26-Jan-062.25
27-Jan-062.25
30-Jan-062.25
31-Jan-062.25
1-Feb-062.25
2-Feb-062.25
3-Feb-062.25
6-Feb-062.25
7-Feb-062.25
8-Feb-062.25
9-Feb-062.25
10-Feb-062.25
13-Feb-062.25
14-Feb-062.25
15-Feb-062.25
16-Feb-062.25
17-Feb-062.25
20-Feb-062.25
21-Feb-062.25
22-Feb-062.25
23-Feb-062.25
24-Feb-062.25
27-Feb-062.25
28-Feb-062.25
1-Mar-062.25
2-Mar-062.25
3-Mar-062.25
6-Mar-062.25
7-Mar-062.25
8-Mar-062.5
9-Mar-062.5
10-Mar-062.5
13-Mar-062.5
14-Mar-062.5
15-Mar-062.5
16-Mar-062.5
17-Mar-062.5
20-Mar-062.5
21-Mar-062.5
22-Mar-062.5
23-Mar-062.5
24-Mar-062.5
27-Mar-062.5
28-Mar-062.5
29-Mar-062.5
30-Mar-062.5
31-Mar-062.5
3-Apr-062.5
4-Apr-062.5
5-Apr-062.5
6-Apr-062.5
7-Apr-062.5
10-Apr-062.5
11-Apr-062.5
12-Apr-062.5
13-Apr-062.5
14-Apr-062.5
17-Apr-062.5
18-Apr-062.5
19-Apr-062.5
20-Apr-062.5
21-Apr-062.5
24-Apr-062.5
25-Apr-062.5
26-Apr-062.5
27-Apr-062.5
28-Apr-062.5
1-May-062.5
2-May-062.5
3-May-062.5
4-May-062.5
5-May-062.5
8-May-062.5
9-May-062.5
10-May-062.5
11-May-062.5
12-May-062.5
15-May-062.5
16-May-062.5
17-May-062.5
18-May-062.5
19-May-062.5
22-May-062.5
23-May-062.5
24-May-062.5
25-May-062.5
26-May-062.5
29-May-062.5
30-May-062.5
31-May-062.5
1-Jun-062.5
2-Jun-062.5
5-Jun-062.5
6-Jun-062.5
7-Jun-062.5
8-Jun-062.5
9-Jun-062.5
12-Jun-062.5
13-Jun-062.5
14-Jun-062.5
15-Jun-062.75
16-Jun-062.75
19-Jun-062.75
20-Jun-062.75
21-Jun-062.75
22-Jun-062.75
23-Jun-062.75
26-Jun-062.75
27-Jun-062.75
28-Jun-062.75
29-Jun-062.75
30-Jun-062.75
3-Jul-062.75
4-Jul-062.75
5-Jul-062.75
6-Jul-062.75
7-Jul-062.75
10-Jul-062.75
11-Jul-062.75
12-Jul-062.75
13-Jul-062.75
14-Jul-062.75
17-Jul-062.75
18-Jul-062.75
19-Jul-062.75
20-Jul-062.75
21-Jul-062.75
24-Jul-062.75
25-Jul-062.75
26-Jul-062.75
27-Jul-062.75
28-Jul-062.75
31-Jul-062.75
1-Aug-062.75
2-Aug-062.75
3-Aug-062.75
4-Aug-062.75
7-Aug-062.75
8-Aug-062.75
9-Aug-063
10-Aug-063
11-Aug-063
14-Aug-063
15-Aug-063
16-Aug-063
17-Aug-063
18-Aug-063
21-Aug-063
22-Aug-063
23-Aug-063
24-Aug-063
25-Aug-063
28-Aug-063
29-Aug-063
30-Aug-063
31-Aug-063
1-Sep-063
4-Sep-063
5-Sep-063
6-Sep-063
7-Sep-063
8-Sep-063
11-Sep-063
12-Sep-063
13-Sep-063
14-Sep-063
15-Sep-063
18-Sep-063
19-Sep-063
20-Sep-063
21-Sep-063
22-Sep-063
25-Sep-063
26-Sep-063
27-Sep-063
28-Sep-063
29-Sep-063
2-Oct-063
3-Oct-063
4-Oct-063
5-Oct-063
6-Oct-063
9-Oct-063
10-Oct-063
11-Oct-063.25
12-Oct-063.25
13-Oct-063.25
16-Oct-063.25
17-Oct-063.25
18-Oct-063.25
19-Oct-063.25
20-Oct-063.25
23-Oct-063.25
24-Oct-063.25
25-Oct-063.25
26-Oct-063.25
27-Oct-063.25
30-Oct-063.25
31-Oct-063.25
1-Nov-063.25
2-Nov-063.25
3-Nov-063.25
6-Nov-063.25
7-Nov-063.25
8-Nov-063.25
9-Nov-063.25
10-Nov-063.25
13-Nov-063.25
14-Nov-063.25
15-Nov-063.25
16-Nov-063.25
17-Nov-063.25
20-Nov-063.25
21-Nov-063.25
22-Nov-063.25
23-Nov-063.25
24-Nov-063.25
27-Nov-063.25
28-Nov-063.25
29-Nov-063.25
30-Nov-063.25
1-Dec-063.25
4-Dec-063.25
5-Dec-063.25
6-Dec-063.25
7-Dec-063.25
8-Dec-063.25
11-Dec-063.25
12-Dec-063.25
13-Dec-063.5
14-Dec-063.5
15-Dec-063.5
18-Dec-063.5
19-Dec-063.5
20-Dec-063.5
21-Dec-063.5
22-Dec-063.5
25-Dec-063.5
26-Dec-063.5
27-Dec-063.5
28-Dec-063.5
29-Dec-063.5
1-Jan-073.5
2-Jan-073.5
3-Jan-073.5
4-Jan-073.5
5-Jan-073.5
8-Jan-073.5
9-Jan-073.5
10-Jan-073.5
11-Jan-073.5
12-Jan-073.5
15-Jan-073.5
16-Jan-073.5
17-Jan-073.5
18-Jan-073.5
19-Jan-073.5
22-Jan-073.5
23-Jan-073.5
24-Jan-073.5
25-Jan-073.5
26-Jan-073.5
29-Jan-073.5
30-Jan-073.5
31-Jan-073.5
1-Feb-073.5
2-Feb-073.5
5-Feb-073.5
6-Feb-073.5
7-Feb-073.5
8-Feb-073.5
9-Feb-073.5
12-Feb-073.5
13-Feb-073.5
14-Feb-073.5
15-Feb-073.5
16-Feb-073.5
19-Feb-073.5
20-Feb-073.5
21-Feb-073.5
22-Feb-073.5
23-Feb-073.5
26-Feb-073.5
27-Feb-073.5
28-Feb-073.5
1-Mar-073.5
2-Mar-073.5
5-Mar-073.5
6-Mar-073.5
7-Mar-073.5
8-Mar-073.5
9-Mar-073.5
12-Mar-073.5
13-Mar-073.5
14-Mar-073.75
Return to Figure
Figure 1: Panel 2 Data: United States (part 1)
DateMean long-run CPI expectation
2000Q12.5
2000Q22.7
2000Q32.5
2000Q42.6
2001Q12.5
2001Q22.6
2001Q32.6
2001Q42.5
2002Q12.6
2002Q22.5
2002Q32.5
2002Q42.4
2003Q12.5
2003Q22.5
2003Q32.5
2003Q42.5
2004Q12.4
2004Q22.5
2004Q32.5
2004Q42.5
2005Q12.5
2005Q22.5
2005Q32.7
2005Q42.5
2006Q12.5
2006Q22.5
2006Q32.6
2006Q42.6
Return to Figure
Figure 1, Panel 2 Data: United States (part 2)
DateFederal Funds Rate
3-Jan-005.5
4-Jan-005.5
5-Jan-005.5
6-Jan-005.5
7-Jan-005.5
10-Jan-005.5
11-Jan-005.5
12-Jan-005.5
13-Jan-005.5
14-Jan-005.5
17-Jan-005.5
18-Jan-005.5
19-Jan-005.5
20-Jan-005.5
21-Jan-005.5
24-Jan-005.5
25-Jan-005.5
26-Jan-005.5
27-Jan-005.5
28-Jan-005.5
31-Jan-005.5
1-Feb-005.5
2-Feb-005.75
3-Feb-005.75
4-Feb-005.75
7-Feb-005.75
8-Feb-005.75
9-Feb-005.75
10-Feb-005.75
11-Feb-005.75
14-Feb-005.75
15-Feb-005.75
16-Feb-005.75
17-Feb-005.75
18-Feb-005.75
21-Feb-005.75
22-Feb-005.75
23-Feb-005.75
24-Feb-005.75
25-Feb-005.75
28-Feb-005.75
29-Feb-005.75
1-Mar-005.75
2-Mar-005.75
3-Mar-005.75
6-Mar-005.75
7-Mar-005.75
8-Mar-005.75
9-Mar-005.75
10-Mar-005.75
13-Mar-005.75
14-Mar-005.75
15-Mar-005.75
16-Mar-005.75
17-Mar-005.75
20-Mar-005.75
21-Mar-006
22-Mar-006
23-Mar-006
24-Mar-006
27-Mar-006
28-Mar-006
29-Mar-006
30-Mar-006
31-Mar-006
3-Apr-006
4-Apr-006
5-Apr-006
6-Apr-006
7-Apr-006
10-Apr-006
11-Apr-006
12-Apr-006
13-Apr-006
14-Apr-006
17-Apr-006
18-Apr-006
19-Apr-006
20-Apr-006
21-Apr-006
24-Apr-006
25-Apr-006
26-Apr-006
27-Apr-006
28-Apr-006
1-May-006
2-May-006
3-May-006
4-May-006
5-May-006
8-May-006
9-May-006
10-May-006
11-May-006
12-May-006
15-May-006
16-May-006.5
17-May-006.5
18-May-006.5
19-May-006.5
22-May-006.5
23-May-006.5
24-May-006.5
25-May-006.5
26-May-006.5
29-May-006.5
30-May-006.5
31-May-006.5
1-Jun-006.5
2-Jun-006.5
5-Jun-006.5
6-Jun-006.5
7-Jun-006.5
8-Jun-006.5
9-Jun-006.5
12-Jun-006.5
13-Jun-006.5
14-Jun-006.5
15-Jun-006.5
16-Jun-006.5
19-Jun-006.5
20-Jun-006.5
21-Jun-006.5
22-Jun-006.5
23-Jun-006.5
26-Jun-006.5
27-Jun-006.5
28-Jun-006.5
29-Jun-006.5
30-Jun-006.5
3-Jul-006.5
4-Jul-006.5
5-Jul-006.5
6-Jul-006.5
7-Jul-006.5
10-Jul-006.5
11-Jul-006.5
12-Jul-006.5
13-Jul-006.5
14-Jul-006.5
17-Jul-006.5
18-Jul-006.5
19-Jul-006.5
20-Jul-006.5
21-Jul-006.5
24-Jul-006.5
25-Jul-006.5
26-Jul-006.5
27-Jul-006.5
28-Jul-006.5
31-Jul-006.5
1-Aug-006.5
2-Aug-006.5
3-Aug-006.5
4-Aug-006.5
7-Aug-006.5
8-Aug-006.5
9-Aug-006.5
10-Aug-006.5
11-Aug-006.5
14-Aug-006.5
15-Aug-006.5
16-Aug-006.5
17-Aug-006.5
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31-May-041
1-Jun-041
2-Jun-041
3-Jun-041
4-Jun-041
7-Jun-041
8-Jun-041
9-Jun-041
10-Jun-041
11-Jun-041
14-Jun-041
15-Jun-041
16-Jun-041
17-Jun-041
18-Jun-041
21-Jun-041
22-Jun-041
23-Jun-041
24-Jun-041
25-Jun-041
28-Jun-041
29-Jun-041
30-Jun-041.25
1-Jul-041.25
2-Jul-041.25
5-Jul-041.25
6-Jul-041.25
7-Jul-041.25
8-Jul-041.25
9-Jul-041.25
12-Jul-041.25
13-Jul-041.25
14-Jul-041.25
15-Jul-041.25
16-Jul-041.25
19-Jul-041.25
20-Jul-041.25
21-Jul-041.25
22-Jul-041.25
23-Jul-041.25
26-Jul-041.25
27-Jul-041.25
28-Jul-041.25
29-Jul-041.25
30-Jul-041.25
2-Aug-041.25
3-Aug-041.25
4-Aug-041.25
5-Aug-041.25
6-Aug-041.25
9-Aug-041.25
10-Aug-041.5
11-Aug-041.5
12-Aug-041.5
13-Aug-041.5
16-Aug-041.5
17-Aug-041.5
18-Aug-041.5
19-Aug-041.5
20-Aug-041.5
23-Aug-041.5
24-Aug-041.5
25-Aug-041.5
26-Aug-041.5
27-Aug-041.5
30-Aug-041.5
31-Aug-041.5
1-Sep-041.5
2-Sep-041.5
3-Sep-041.5
6-Sep-041.5
7-Sep-041.5
8-Sep-041.5
9-Sep-041.5
10-Sep-041.5
13-Sep-041.5
14-Sep-041.5
15-Sep-041.5
16-Sep-041.5
17-Sep-041.5
20-Sep-041.5
21-Sep-041.75
22-Sep-041.75
23-Sep-041.75
24-Sep-041.75
27-Sep-041.75
28-Sep-041.75
29-Sep-041.75
30-Sep-041.75
1-Oct-041.75
4-Oct-041.75
5-Oct-041.75
6-Oct-041.75
7-Oct-041.75
8-Oct-041.75
11-Oct-041.75
12-Oct-041.75
13-Oct-041.75
14-Oct-041.75
15-Oct-041.75
18-Oct-041.75
19-Oct-041.75
20-Oct-041.75
21-Oct-041.75
22-Oct-041.75
25-Oct-041.75
26-Oct-041.75
27-Oct-041.75
28-Oct-041.75
29-Oct-041.75
1-Nov-041.75
2-Nov-041.75
3-Nov-041.75
4-Nov-041.75
5-Nov-041.75
8-Nov-041.75
9-Nov-041.75
10-Nov-042
11-Nov-042
12-Nov-042
15-Nov-042
16-Nov-042
17-Nov-042
18-Nov-042
19-Nov-042
22-Nov-042
23-Nov-042
24-Nov-042
25-Nov-042
26-Nov-042
29-Nov-042
30-Nov-042
1-Dec-042
2-Dec-042
3-Dec-042
6-Dec-042
7-Dec-042
8-Dec-042
9-Dec-042
10-Dec-042
13-Dec-042
14-Dec-042.25
15-Dec-042.25
16-Dec-042.25
17-Dec-042.25
20-Dec-042.25
21-Dec-042.25
22-Dec-042.25
23-Dec-042.25
24-Dec-042.25
27-Dec-042.25
28-Dec-042.25
29-Dec-042.25
30-Dec-042.25
31-Dec-042.25
3-Jan-052.25
4-Jan-052.25
5-Jan-052.25
6-Jan-052.25
7-Jan-052.25
10-Jan-052.25
11-Jan-052.25
12-Jan-052.25
13-Jan-052.25
14-Jan-052.25
17-Jan-052.25
18-Jan-052.25
19-Jan-052.25
20-Jan-052.25
21-Jan-052.25
24-Jan-052.25
25-Jan-052.25
26-Jan-052.25
27-Jan-052.25
28-Jan-052.25
31-Jan-052.25
1-Feb-052.25
2-Feb-052.5
3-Feb-052.5
4-Feb-052.5
7-Feb-052.5
8-Feb-052.5
9-Feb-052.5
10-Feb-052.5
11-Feb-052.5
14-Feb-052.5
15-Feb-052.5
16-Feb-052.5
17-Feb-052.5
18-Feb-052.5
21-Feb-052.5
22-Feb-052.5
23-Feb-052.5
24-Feb-052.5
25-Feb-052.5
28-Feb-052.5
1-Mar-052.5
2-Mar-052.5
3-Mar-052.5
4-Mar-052.5
7-Mar-052.5
8-Mar-052.5
9-Mar-052.5
10-Mar-052.5
11-Mar-052.5
14-Mar-052.5
15-Mar-052.5
16-Mar-052.5
17-Mar-052.5
18-Mar-052.5
21-Mar-052.5
22-Mar-052.75
23-Mar-052.75
24-Mar-052.75
25-Mar-052.75
28-Mar-052.75
29-Mar-052.75
30-Mar-052.75
31-Mar-052.75
1-Apr-052.75
4-Apr-052.75
5-Apr-052.75
6-Apr-052.75
7-Apr-052.75
8-Apr-052.75
11-Apr-052.75
12-Apr-052.75
13-Apr-052.75
14-Apr-052.75
15-Apr-052.75
18-Apr-052.75
19-Apr-052.75
20-Apr-052.75
21-Apr-052.75
22-Apr-052.75
25-Apr-052.75
26-Apr-052.75
27-Apr-052.75
28-Apr-052.75
29-Apr-052.75
2-May-052.75
3-May-053
4-May-053
5-May-053
6-May-053
9-May-053
10-May-053
11-May-053
12-May-053
13-May-053
16-May-053
17-May-053
18-May-053
19-May-053
20-May-053
23-May-053
24-May-053
25-May-053
26-May-053
27-May-053
30-May-053
31-May-053
1-Jun-053
2-Jun-053
3-Jun-053
6-Jun-053
7-Jun-053
8-Jun-053
9-Jun-053
10-Jun-053
13-Jun-053
14-Jun-053
15-Jun-053
16-Jun-053
17-Jun-053
20-Jun-053
21-Jun-053
22-Jun-053
23-Jun-053
24-Jun-053
27-Jun-053
28-Jun-053
29-Jun-053
30-Jun-053.25
1-Jul-053.25
4-Jul-053.25
5-Jul-053.25
6-Jul-053.25
7-Jul-053.25
8-Jul-053.25
11-Jul-053.25
12-Jul-053.25
13-Jul-053.25
14-Jul-053.25
15-Jul-053.25
18-Jul-053.25
19-Jul-053.25
20-Jul-053.25
21-Jul-053.25
22-Jul-053.25
25-Jul-053.25
26-Jul-053.25
27-Jul-053.25
28-Jul-053.25
29-Jul-053.25
1-Aug-053.25
2-Aug-053.25
3-Aug-053.25
4-Aug-053.25
5-Aug-053.25
8-Aug-053.25
9-Aug-053.5
10-Aug-053.5
11-Aug-053.5
12-Aug-053.5
15-Aug-053.5
16-Aug-053.5
17-Aug-053.5
18-Aug-053.5
19-Aug-053.5
22-Aug-053.5
23-Aug-053.5
24-Aug-053.5
25-Aug-053.5
26-Aug-053.5
29-Aug-053.5
30-Aug-053.5
31-Aug-053.5
1-Sep-053.5
2-Sep-053.5
5-Sep-053.5
6-Sep-053.5
7-Sep-053.5
8-Sep-053.5
9-Sep-053.5
12-Sep-053.5
13-Sep-053.5
14-Sep-053.5
15-Sep-053.5
16-Sep-053.5
19-Sep-053.5
20-Sep-053.75
21-Sep-053.75
22-Sep-053.75
23-Sep-053.75
26-Sep-053.75
27-Sep-053.75
28-Sep-053.75
29-Sep-053.75
30-Sep-053.75
3-Oct-053.75
4-Oct-053.75
5-Oct-053.75
6-Oct-053.75
7-Oct-053.75
10-Oct-053.75
11-Oct-053.75
12-Oct-053.75
13-Oct-053.75
14-Oct-053.75
17-Oct-053.75
18-Oct-053.75
19-Oct-053.75
20-Oct-053.75
21-Oct-053.75
24-Oct-053.75
25-Oct-053.75
26-Oct-053.75
27-Oct-053.75
28-Oct-053.75
31-Oct-053.75
1-Nov-054
2-Nov-054
3-Nov-054
4-Nov-054
7-Nov-054
8-Nov-054
9-Nov-054
10-Nov-054
11-Nov-054
14-Nov-054
15-Nov-054
16-Nov-054
17-Nov-054
18-Nov-054
21-Nov-054
22-Nov-054
23-Nov-054
24-Nov-054
25-Nov-054
28-Nov-054
29-Nov-054
30-Nov-054
1-Dec-054
2-Dec-054
5-Dec-054
6-Dec-054
7-Dec-054
8-Dec-054
9-Dec-054
12-Dec-054
13-Dec-054.25
14-Dec-054.25
15-Dec-054.25
16-Dec-054.25
19-Dec-054.25
20-Dec-054.25
21-Dec-054.25
22-Dec-054.25
23-Dec-054.25
26-Dec-054.25
27-Dec-054.25
28-Dec-054.25
29-Dec-054.25
30-Dec-054.25
2-Jan-064.25
3-Jan-064.25
4-Jan-064.25
5-Jan-064.25
6-Jan-064.25
9-Jan-064.25
10-Jan-064.25
11-Jan-064.25
12-Jan-064.25
13-Jan-064.25
16-Jan-064.25
17-Jan-064.25
18-Jan-064.25
19-Jan-064.25
20-Jan-064.25
23-Jan-064.25
24-Jan-064.25
25-Jan-064.25
26-Jan-064.25
27-Jan-064.25
30-Jan-064.25
31-Jan-064.5
1-Feb-064.5
2-Feb-064.5
3-Feb-064.5
6-Feb-064.5
7-Feb-064.5
8-Feb-064.5
9-Feb-064.5
10-Feb-064.5
13-Feb-064.5
14-Feb-064.5
15-Feb-064.5
16-Feb-064.5
17-Feb-064.5
20-Feb-064.5
21-Feb-064.5
22-Feb-064.5
23-Feb-064.5
24-Feb-064.5
27-Feb-064.5
28-Feb-064.5
1-Mar-064.5
2-Mar-064.5
3-Mar-064.5
6-Mar-064.5
7-Mar-064.5
8-Mar-064.5
9-Mar-064.5
10-Mar-064.5
13-Mar-064.5
14-Mar-064.5
15-Mar-064.5
16-Mar-064.5
17-Mar-064.5
20-Mar-064.5
21-Mar-064.5
22-Mar-064.5
23-Mar-064.5
24-Mar-064.5
27-Mar-064.5
28-Mar-064.75
29-Mar-064.75
30-Mar-064.75
31-Mar-064.75
3-Apr-064.75
4-Apr-064.75
5-Apr-064.75
6-Apr-064.75
7-Apr-064.75
10-Apr-064.75
11-Apr-064.75
12-Apr-064.75
13-Apr-064.75
14-Apr-064.75
17-Apr-064.75
18-Apr-064.75
19-Apr-064.75
20-Apr-064.75
21-Apr-064.75
24-Apr-064.75
25-Apr-064.75
26-Apr-064.75
27-Apr-064.75
28-Apr-064.75
1-May-064.75
2-May-064.75
3-May-064.75
4-May-064.75
5-May-064.75
8-May-064.75
9-May-064.75
10-May-065
11-May-065
12-May-065
15-May-065
16-May-065
17-May-065
18-May-065
19-May-065
22-May-065
23-May-065
24-May-065
25-May-065
26-May-065
29-May-065
30-May-065
31-May-065
1-Jun-065
2-Jun-065
5-Jun-065
6-Jun-065
7-Jun-065
8-Jun-065
9-Jun-065
12-Jun-065
13-Jun-065
14-Jun-065
15-Jun-065
16-Jun-065
19-Jun-065
20-Jun-065
21-Jun-065
22-Jun-065
23-Jun-065
26-Jun-065
27-Jun-065
28-Jun-065
29-Jun-065.25
30-Jun-065.25
3-Jul-065.25
4-Jul-065.25
5-Jul-065.25
6-Jul-065.25
7-Jul-065.25
10-Jul-065.25
11-Jul-065.25
12-Jul-065.25
13-Jul-065.25
14-Jul-065.25
17-Jul-065.25
18-Jul-065.25
19-Jul-065.25
20-Jul-065.25
21-Jul-065.25
24-Jul-065.25
25-Jul-065.25
26-Jul-065.25
27-Jul-065.25
28-Jul-065.25
31-Jul-065.25
1-Aug-065.25
2-Aug-065.25
3-Aug-065.25
4-Aug-065.25
7-Aug-065.25
8-Aug-065.25
9-Aug-065.25
10-Aug-065.25
11-Aug-065.25
14-Aug-065.25
15-Aug-065.25
16-Aug-065.25
17-Aug-065.25
18-Aug-065.25
21-Aug-065.25
22-Aug-065.25
23-Aug-065.25
24-Aug-065.25
25-Aug-065.25
28-Aug-065.25
29-Aug-065.25
30-Aug-065.25
31-Aug-065.25
1-Sep-065.25
4-Sep-065.25
5-Sep-065.25
6-Sep-065.25
7-Sep-065.25
8-Sep-065.25
11-Sep-065.25
12-Sep-065.25
13-Sep-065.25
14-Sep-065.25
15-Sep-065.25
18-Sep-065.25
19-Sep-065.25
20-Sep-065.25
21-Sep-065.25
22-Sep-065.25
25-Sep-065.25
26-Sep-065.25
27-Sep-065.25
28-Sep-065.25
29-Sep-065.25
2-Oct-065.25
3-Oct-065.25
4-Oct-065.25
5-Oct-065.25
6-Oct-065.25
9-Oct-065.25
10-Oct-065.25
11-Oct-065.25
12-Oct-065.25
13-Oct-065.25
16-Oct-065.25
17-Oct-065.25
18-Oct-065.25
19-Oct-065.25
20-Oct-065.25
23-Oct-065.25
24-Oct-065.25
25-Oct-065.25
26-Oct-065.25
27-Oct-065.25
30-Oct-065.25
31-Oct-065.25
1-Nov-065.25
2-Nov-065.25
3-Nov-065.25
6-Nov-065.25
7-Nov-065.25
8-Nov-065.25
9-Nov-065.25
10-Nov-065.25
13-Nov-065.25
14-Nov-065.25
15-Nov-065.25
16-Nov-065.25
17-Nov-065.25
20-Nov-065.25
21-Nov-065.25
22-Nov-065.25
23-Nov-065.25
24-Nov-065.25
27-Nov-065.25
28-Nov-065.25
29-Nov-065.25
30-Nov-065.25
1-Dec-065.25
4-Dec-065.25
5-Dec-065.25
6-Dec-065.25
7-Dec-065.25
8-Dec-065.25
11-Dec-065.25
12-Dec-065.25
13-Dec-065.25
14-Dec-065.25
15-Dec-065.25
18-Dec-065.25
19-Dec-065.25
20-Dec-065.25
21-Dec-065.25
22-Dec-065.25
25-Dec-065.25
26-Dec-065.25
27-Dec-065.25
28-Dec-065.25
29-Dec-065.25
Return to Figure
Figure 2 Data
DateStandard deviation of HICP expectationStandard deviation of CPI expectation
2000Q10.40.5
2000Q20.30.5
2000Q30.30.4
2000Q40.30.4
2001Q10.30.4
2001Q20.30.4
2001Q30.20.4
2001Q40.20.4
2002Q10.20.4
2002Q20.20.3
2002Q30.20.3
2002Q40.20.4
2003Q10.20.3
2003Q20.20.4
2003Q30.20.3
2003Q40.30.4
2004Q10.20.4
2004Q20.20.4
2004Q30.20.3
2004Q40.20.3
2005Q10.10.4
2005Q20.20.4
2005Q30.20.7
2005Q40.10.3
2006Q10.20.4
2006Q20.10.4
2006Q30.10.5
2006Q40.10.5
Return to Figure
Figure 3 Data
DateBlue Chip MeanBlue Chip DispersionSPF MeanSPF Dispersion
1992Q13.91.73.7833333332.1
1992Q2  4.0194444442.4
1992Q33.61.43.7647058821.9
1992Q4  3.6441176462.2
1993Q13.51.43.5516129031.6
1993Q2  3.8757575752.4
1993Q33.51.63.3344117641.4
1993Q4  3.5562499992
1994Q13.31.23.3384615371
1994Q2  3.4566666661.4
1994Q33.413.4038461531.3
1994Q4  3.4884615381.2
1995Q13.41.23.3642857141.1
1995Q2  3.3644444441.5
1995Q33.21.13.2159574461.6
1995Q4  3.0251.2
1996Q12.90.62.9994736841.4
1996Q2  3.0513513511
1996Q331.13.0337499991.2
1996Q4  2.9953124991.1
1997Q13.10.92.9324999991.3
1997Q2  2.886111111.1
1997Q32.81.12.8878787871.1
1997Q4  2.7083333331.1
1998Q12.70.82.6177419351.1
1998Q2  2.4351851851
1998Q32.70.62.591.1
1998Q4  2.531.1
1999Q12.60.42.3790322581.1
1999Q2  2.4338235291.3
1999Q32.50.92.5042857141.2
1999Q4  2.4051.1
2000Q12.50.92.5058823531.3
2000Q2  2.6766666671
2000Q32.60.82.5306451611.1
2000Q4  2.5818181821.1
2001Q12.60.82.5251.2
2001Q2  2.6120689661.1
2001Q32.60.62.5766666671
2001Q4  2.5203846151
2002Q12.812.5893939391
2002Q2  2.5455882350.8
2002Q32.512.543750.8
2002Q4  2.3857142860.9
2003Q12.60.82.4735294120.8
2003Q2  2.4636363641
2003Q32.512.4592592590.8
2003Q4  2.4574193551
2004Q12.51.12.420370371
2004Q2  2.50640.9
2004Q32.512.5130.7
2004Q4  2.50040.6
2005Q12.51.12.4945454550.9
2005Q2  2.5231111111.1
2005Q32.50.92.7008108111.4
2005Q4  2.5329032260.8
2006Q12.40.82.5120408161.1
2006Q2  2.5045876371
2006Q32.40.72.6344452631.6
2006Q4  2.5789130441.4
2007Q12.30.82.4104675591.2
2007Q2  2.4718367351.4
Return to Figure
Figure 5, Panel 1 Data: US Non-Farm Payrolls
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the US non-farm payrolls announcementCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
2-0.10.661.420.38
3-0.030.571.170.3
4-0.120.4410.28
5-0.280.30.880.29
6-0.450.150.750.3
7-0.60.020.640.31
8-0.76-0.10.560.33
9-0.89-0.210.470.34
10-1-0.30.40.35
Return to Figure
Figure 5, Panel 2 Data: French CPI
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the French CPICoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
20.511.231.950.36
30.410.971.530.28
40.210.751.290.27
50.020.561.10.27
6-0.150.410.970.28
7-0.30.30.90.3
8-0.410.210.830.31
9-0.480.160.80.32
10-0.530.130.790.33
Return to Figure
Figure 5, Panel 3 Data: IFO Business Survey
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the German IFO Business SurveyCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
2-0.430.331.090.38
3-0.220.380.980.3
4-0.170.390.950.28
5-0.190.370.930.28
6-0.250.350.950.3
7-0.310.310.930.31
8-0.360.280.920.32
9-0.420.240.90.33
10-0.470.210.890.34
Return to Figure
Figure 5, Panel 4 Data: ZEW Business Survey
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the German ZEW Business SurveyCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
20.150.851.550.35
30.120.681.240.28
40.010.531.050.26
5-0.10.420.940.26
6-0.230.330.890.28
7-0.310.270.850.29
8-0.370.230.830.3
9-0.410.210.830.31
10-0.440.20.840.32
Return to Figure
Figure 6, Panel 1 Data: US Non-farm Payrolls
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the US non-farm payrolls announcementCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
22.243.925.60.84
30.652.293.930.82
40.111.532.950.71
50.431.672.910.62
612.123.240.56
71.432.513.590.54
81.62.723.840.56
91.542.743.940.6
101.382.623.860.62
Return to Figure
Figure 6, Panel 2 Data: US GDP Advance
Forward Rate HorizonCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the US GDP AdvanceCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
2-3.04-0.442.161.3
3-2.95-0.412.131.27
4-2.45-0.251.951.1
5-1.670.252.170.96
6-0.80.942.680.87
7-0.08999999999999991.593.270.84
80.412.153.890.87
90.712.554.390.92
100.892.814.730.96
Return to Figure
Figure 7, Panel 1 Data: Non-farm Payrolls
Days ahead of the releaseCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the non-farm payrolls releaseCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
01.372.613.850.62
12.334.196.050.93
22.134.316.491.09
32.555.037.511.24
41.814.717.611.45
51.775.118.451.67
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Figure 7, Panel 2 Data: GDP Advance
Days ahead of the releaseCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the GDP advance releaseCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
00.832.754.670.96
1-0.042.65.241.32
2-0.432.836.091.63
3-0.743.086.91.91
4-1.562.747.042.15
5-2.352.417.172.38
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Figure 7, Panel 3 Data: New Homes
Days ahead of the releaseCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the new homes sales releaseCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
00.07999999999999981.382.680.65
1-0.950.872.690.91
2-1.660.642.941.15
3-2.69-0.112.471.29
4-4.65-1.751.151.45
5-8.21-4.23-0.251.99
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Figure 7, Panel 4 Data: Leading Economic Indicators
Days ahead of the releaseCoefficient estimate minus two times the estimated standard deviationEstimated response of forward inflation compensation to a one standard deviation surprise in the leading economic indicators releaseCoefficient estimate plus two times the estimated standard deviationEstimated standard deviation
0-2.87-1.61-0.350.63
1-2.62-0.90.820.86
2-2.75-0.611.531.07
3-3.52-1.021.481.25
4-4.21-1.411.391.4
5-4.79-1.611.571.59
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