euro area. Instead of imposing rational expectations, direct measures, ie OECD forecasts, are used as empirical proxies for … OECD inflation forecasts perform relatively well as a proxy for inflation expectations in the euro area, since under this …

the euro area: the older expectations-augmented Phillips curve and the new Keynesian Phillips curve. The main focus is on … the euro area as a whole, although potential heterogeneity of inflation dynamics is also examined across eleven EMU … countries. According to the results, inflation expectations are central to the inflation process in all euro area countries. The …

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation … an analysis of the dynamic interrelationship between these variables. This model is estimated on aggregate euro area data …, pooled euro area country data and individual country data for the period 1979–2003. The empirical results give strong support …

This paper deals with the question of whether the euro area Phillips curve is nonlinear. There has recently been a … great deal of discussion and studies concerning the same question in the US context. The data set includes most of the euro … many euro countries. The curve is asymmetric in the sense that, with a positive output gap (actual output is greater than …

, estimates of the present and forecasts, from OECD Economic Outlook and National Accounts. We set this up as a panel for the euro …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian …

This paper examines empirical performance of three different Phillips curve specifications in the euro area. Instead of …