[16] See, for example, Castelnuovo et al. (2003), “Definition of Price Stability, Range and Point Inflation Targets: The Anchoring of Long-Term Inflation Expectations”, Working Paper Series, No. 273, ECB. [17] See Coibion, O., et al. (2018), “Inflation Expectations as a Policy Tool?”, NBER Working Paper No 24788. [18] See Cœuré, B.
(2019), “Inflation expectations and the conduct of monetary policy”, speech at an event organised by the SAFE Policy Center, Frankfurt am Main, 11 July. [19] See Shepard, B. (2012), “When are adaptive expectations rational? A generalization”, Economics Letters, 115 (2012) pp. 4–6. [20] See, for example, Coibion, O. and Gorodnichenko, Y. (2015), “Is the Phillips curve alive and well after all?