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

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 …

Japan long-term inflation expectations are well anchored and, generally, increasingly so over the past decade. When … 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 …

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 …

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 …

United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects …

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and …, Japan and the euro area appear quite distinct. Documenting and comparing such international business-cycle features can aid …