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 …

find a higher average forecast accuracy of models that incorporate information on inflation expectations from the ECB's SPF … inflation expectations are typically not large but significant in some periods. Both short- and long-term expectations provide … (not always for the countries). The analysis is undertaken for headline inflation and inflation excluding energy and food …

the European Union as part of the ‘fifth wave’ of EU enlargement, i.e. Cyprus, Czech Republic, Estonia, Hungary, Latvia …, Lithuania, Malta, Poland, Slovakia, and Slovenia on 01/05/2004, and Bulgaria and Romania on 01/01/2007. It marked an …