We provide new insights on the formation of inflation expectations - in particular at a time of great financial and … answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common … information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results …

national output gaps constructed turn out to significantly explain future changes in inflation. Moreover, the analysis also … reveals that an aggregate European output gap significantly precedes aggregate European inflation, as well as inflation in the … individual EU countries. These findings imply that an aggregate European output gap may serve as an inflation indicator for the …

We empirically investigate how well different learning rules manage to explain the formation of household inflation … in replicating inflation expectation data but also in forecasting actual inflation rates. …

This paper assesses the performance of core inflation measures based on the structural VAR approach. Since core or … monetary inflation is not directly observable, we develop a monetary general equilibrium model that fits real aggregated … European data and use this model to generate time series for headline as well as core inflation. For five different schemes …

This paper assesses the performance of core inflation measures based on the structural VAR approach. Since core or … monetary inflation is not directly observable, we develop a monetary general equilibrium model that fits real aggregated … European data and use this model to generate time series for headline as well as core inflation. For five different schemes …

constructed turn out to explain movements in inflation in a statistically significant way. Moreover, an aggregate European output … gap significantly preceeds inflation in the EU-countries individually as well as aggregate European inflation. These … findings imply that an aggregate European output gap is a sensible indicator for inflation to be considered in the policy …

This paper examines robust estimators of core inflation for Belgian historical CPI data, and for euro area Harmonised … outperform the traditional core inflation measures found in the literature. However, as traditional measures, they lag rather … than lead observed inflation. This was particularly so in the 70s and the 80s when the oil price shocks had substantial …