. This paper continues this strand of research by examining the role survey expectations play in the inflation process and … reports three principal findings. One, short-run inflation expectations appear to play a significant role in explaining U ….S. inflation over the past 20-25 years. Two, long-run expectations generally do not appear to have a direct influence on U …

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. …

Changing time series properties of US inflation and economic activity are analyzed within a class of extended Phillips … models that describe changing patterns in low and high frequencies and backward as well as forward inflation expectation … frequencies are carefully modeled. Modeling inflation expectations using survey data and adding level shifts and stochastic …

Professional Forecasters as proxy for expected inflation. We obtain significant and plausible estimates for the structural … inflation enters the price equation significantly, even when controlling for its ability to predict expectations. This suggests … a role for lagged inflation beyond that of capturing non-rationalities in expectations. This suggests a role for lagged …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus … results indicate that in both economic areas the inflation dynamics have steadily become more forward-looking over time. We …

, 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 …

Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a …. Forward and backward looking expectation components for inflation are incorporated and their relative importance is evaluated …. Survey data on expected inflation are introduced to strengthen the information in the likelihood. Use is made of simulation …

Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a …. Forward as well as backward looking expectation mechanisms for inflation are incorporated and their relative importance … evaluated. Survey data on expected inflation are introduced to strengthen the information in the likelihood. Use is made of …