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

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 …

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …

We apply both classical and Bayesian econometric methods to characterize the dynamic behavior of inflation for twelve … 1990s. Allowing for a break in intercept, the inflation measures generally exhibit relatively low inflation persistence …. Evidently, high inflation persistence is not an inherent characteristic of industrial economies. …

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 …

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