the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the …Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be …

help anchoring inflation expectations. We use survey data on long-term inflation expectations in 15 industrial countries … since the early nineties to investigate how well anchored are inflation expectations. We find that in all countries except … Japan long-term inflation expectations are well anchored and, generally, increasingly so over the past decade. When …

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial … in inflation that were matched by growth rates in M2 and nominal GDP but not real GDP in each country and cross …-country averages. Inflationary expectations as estimated by bond rates less real growth trends indicated little inflation expectation …

Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects … already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining … influence of inflation on factor substitution. It turns out that already in a simple neoclassical monetary growth model this …

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this …. Robustly to alternative definitions of the relative price, identification schemes dictated by two-sided (S,s) pricing theory … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and …