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professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and … the United Kingdom are updated about once a year, in Italy about once each six months …
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We estimate the degree of "stickiness" in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003778438
, Germany, Italy, the UK and the US. The following results emerge from our analysis. First, and contrary to the recent findings … over the Internet. It includes more than 5 million daily price quotes downloaded from price comparison web sites in France …
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An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...
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This paper documents the structure, estimation and simulation properties of the Italian block of the ESCB-multi-country model (MCM). The model is used regularly as an input into Eurosystem projection exercises and, to a lesser extent, in simulation analysis. The specic̄ation of the Italian...
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