We investigate the relevance of the Carroll's sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the...

Unless labour force participation in Europe increases enormously in the coming decades, the current demographic dynamics will pose gigantic challenges to the sustainability of public finance. Migration (and thus migration policy) can thus be seen as a central topic which will remain on top of...

Unless labour force participation in Europe increases enormously in the coming decades, the current demographic dynamics will pose gigantic challenges to the sustainability of public finance. Migration (and thus migration policy) can thus be seen as a central topic which will remain on top of...

The paper investigates a set of possible leading indicators for Euroland's business cycle using aggregated quarterly data. The theoretical plausibility, the behavior at business cycle turning points and the mean leads are analyzed. Furthermore, evidence from cross-correlations and...

The paper presents some stylized facts of Euroland's business cycle using aggregated data. The main results are: The determination of turning points in Euroland's business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it....