assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are … not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission’s Consumer … Survey data. The results suggest that expectations drive inflation with a lag of about 6 months, which casts further doubt on …

, we follow Roberts (1997) and Adam and Padula (2003) and use direct measures of inflation expectations. The data source is … the Ifo World Economic Survey, which quarterly polls economic experts about their expected future development of inflation … turns out to more relevant for most countries in our sample. (ii) The use of survey data for inflation expectations yields a …

This paper explores the question to what extent non-domestic factors provide an explanation of US inflation over the … last three decades. Are lagged dependent variables - traditionally interpreted as proxies for inflation expectations - just … estimated for the USA. The results show that crude oil prices, which basically are world market prices, have exerted a strong …

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … six countries (US, UK, Germany, France, Canada, and Japan). We evaluate the models' abilities to match empirical second … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated …

The present paper uses survey data on expected consumer price developments to analyse the role of inflation … expectations in the inflation process. The survey measures of price expectations are derived from the European Commission … estimates of the New Keynesian inflation model presented here underscore the importance of inflation expectations for the short …

professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and …

Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the … therefore examines the empirical properties of inflation expectations data constructed on the basis of both qualitative and … provides some insights into the nature of the interaction between monetary policy and inflation expectations. …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a …-run Phillips curve suggests the development of a holistic framework that can jointly explain the evolution of inflation and … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …