摘要：Well-anchored inflation expectations are considered to be
a reflection of credible monetary policy. In the past, anchoring
has typically been assessed using either long-run inflation
surveys or breakeven inflation rates on financial assets with
long maturities. Here we propose an alternative measure of
inflation anchoring that makes full use of readily available,
multiple-horizon, fixed-event forecasts. We show that a model
where forecasts are assumed to diverge from a perceived longrun
anchor towards actual inflation as the forecast horizon
shortens fits the data well. It also provides simple estimates
of the degree to which inflation expectations are anchored. We
use our methodology to examine how inflation anchoring has
evolved in forty-four economies.
