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Using micro price data underlying the Harmonized Index of Consumer Prices in France, Germany and Italy, we estimate … France, 1.2%-2.0% in Germany, 0.8%-1.0% in Italy, and 1.1-1.7% in the Euro Area (three country average). Differences across …
Persistent link: https://www.econbiz.de/10013218076
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We estimate a forward-looking New Keynesian Phillips Curve (NKPC) for the U.S. using data from the Survey of Professional Forecasters as proxy for expected inflation. We obtain significant and plausible estimates for the structural parameters of the NKPC (the discount factor and the share of...
Persistent link: https://www.econbiz.de/10011604268