In this study, we provide a comprehensive estimation of the contemporary Phillips curve relationship in the South …/tightness and inflation expectations, contributing to the debate on the relevance of the Phillips curve in South Africa, where … previous findings have been inconclusive. Our analysis reveals that long-run inflation expectations are the primary driver of …

This paper uses an econometric model and Bayesian estimation to reverse engineer the path of inflation expectations … common measures of expected inflation available from surveys or computed from financial data. In particular, they exhibit the … strongest correlation with the inflation forecasts of the respondents in the University of Michigan Survey of Consumers. The …

The purpose of the present paper is to investigate the structure and dynamics of professionals' forecast of inflation … multi-period forecast and, thereby, the expected momentum of inflation. Using number survey-based data for the US and UK, we …

This letter uses consumer survey data to estimate expectations-augmented Phillips curves with inflation expectations … disaggregated by socioeconomic and demographic groups. The inflation expectations of high-income, college-educated, male, and … working-age people play a larger role in inflation dynamics than do the expectations of other groups of consumers or of …

between inflation and real output have been developed. Since these new Phillips curve models are expressed in terms of …

I summarize recent progress made in the literature on inflation dynamics. This has been a very productive area of … to inflation dynamics and the characteristics of the information set price-setters use for their price adjustment …

sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly … been caused by commodity price shocks and supply bottlenecks, rather than shortages in the labour market. Inflation … future inflation rates. However, this prediction is based on the assumption that there will be no commodity price shocks and …

Inflation expectations of households and firms are central determinants in all dynamic macro models. Yet, empirical … average, inflation expectations are biased upwards, are substantially dispersed across individuals, and co-move strongly with … inflation expectations, their determinants, and how inflation expectations shape individuals’ consumption, savings, and …

volatility turns out to be positive, and there is no important relationship between inflation and volatility. The main policy …