Some of these reforms improve fairness by combating tax evasion or rent-seeking by vested interests, and they improve the efficiency of the public sector. National policy-makers are now increasingly making a central part of their objective the overall aim of EMU: to sustain economic well-being in the absence of major imbalances, and to generate sustainable growth in a competitive environment.
As is the case with the yield curve and interest rate futures, it is useful to compare estimates of expected inflation derived from breakeven inflation data with estimates of expected inflation obtained from surveys—for example, the expected inflation over the  14 Well before the launch of the TIPS market, Friedman (1984) stressed the benefits to monetary policy analysis that would arise from the availability of market-based estimates of longer-term inflation expectations, and he contrasted that situation with the one then prevailing, in which it was difficult to ascertain the real yields implied by the market’s longer-term nominal yields.