We ask whether stock returns in France, Germany, Japan, the UK and the US are predictable by three instruments: the …

price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …

This paper estimates expected future real interest rates and inflation rates from observed prices of UK government …-linked bonds. It assumes that expected log returns on all bonds are equal, and that expected real interest rates and inflation … inflation expectations forecast actual future inflation more accurately than nominal yields do. The estimated real interest rate …

expected inflation. To test this question two sets of inflation forecasts for the U.S. and five European countries were … generated: 1) from time series of past inflation rates;2) by forecasting real rates from time series of past real rates and … subtracting these forecasts from nominal rates. The accuracy of the two sets of inflation forecasts was compared. The results …

with low credibility (high persistence of inflation) tend to have better predictability …