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Persistent link: https://www.econbiz.de/10001513461
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 Economics survey and so do not assume rational...
Persistent link: https://www.econbiz.de/10013081651
In this paper we report results on inflation persistence using 79 inflation series covering the EU countries, the euro area and the US for five different inflation variables. The picture that emerges is one of moderate inflation persistence across the board. In particular we find euro area...
Persistent link: https://www.econbiz.de/10013120765
In this paper we report results on inflation persistence using 79 inflation series covering the EU countries, the euro area and the US for five different inflation variables. The picture that emerges is one of moderate inflation persistence across the board. In particular we find euro area...
Persistent link: https://www.econbiz.de/10013318918
elasticities for 312 industries at the 4-digit SIC level over the period 1989 to 1995. Our estimation results offer the most … statistically significant differences exist within most 3-digit SIC industries, which highlights the importance of estimation at a …
Persistent link: https://www.econbiz.de/10014142632
the period 1989-1995. Our estimation results offer a comprehensive, disaggregated, and up-to-date set of Armington … exist within most three-digit SIC categories, which highlights the importance of estimation at a disaggregated level …
Persistent link: https://www.econbiz.de/10014088622
Persistent link: https://www.econbiz.de/10012290634
We provide evidence on the fit of the hybrid New Keynesian Phillips curve for selected euro zone countries, the US and the UK. Instead of imposing rational expectations and estimating the Phillips curve by the Generalized Method of Moments, we follow Roberts (1997) and Adam and Padula (2003) and...
Persistent link: https://www.econbiz.de/10003301367
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