imposing rational expectations, direct measures, ie OECD forecasts, are used to proxy economic agents' inflation expectations … Classical and Hybrid Phillips curves. We interpret our results as indicating that the European inflation process is not purely … forwardlooking, so that inflation cannot instantaneously adjust to new information. Consequently, even allowing for possible non …

the Phillips curve over time. We consider different specifications and different measures for inflation. Furthermore, we ….S. headline inflation has remained empirically relevant over the years. …

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 …

economic agents' inflation expectations. Real marginal costs are proxied by three different measures. The results suggest that … OECD inflation forecasts perform relatively well as a proxy for inflation expectations in the euro area, since under this … approach the European inflation process can be modeled using the forward-looking New Keynesian Phillips curve. However …

This paper examines euro area inflation dynamics by estimating open economy New Keynesian Phillips curves based on the … survey data and OECD inflation forecasts are used to proxy inflation expectations. The results suggest that, compared with a … closed economy New Keynesian Phillips curve, euro area inflation dynamics are better captured by the open economy …

This paper examines inflation dynamics in Europe. Econometric specification tests with pooled European data are used to … proxy economic agents' inflation expectations. According to the results, the New Classical Phillips curve has satisfactory … Classical and Hybrid Phillips curves. We interpret our results as indicating that the European inflation process is not purely …

in principle less restrictive approach is applied to operationalising expectations. Direct measures of inflation … expectations, i.e. OECD forecasts, are used as empirical proxies of economic agents' inflation expectations. The main interest is … in the euro area as a whole, although potential heterogeneity of inflation dynamics is also examined across eleven EMU …

This paper examines the role of inflation expectations in Solomon Islands, a Pacific Island Country, using the Hybrid … matter for inflation. Fuel prices and output gap are important indicators of current inflation. The study highlights key … through effect onto domestic prices. Studies on the role of inflation expectations in small, open, economies of the Pacific …

instability of individual CG regressions’ coefficients, based on inflation forecasts from 24 professionals. Our findings suggest …