Assuming that private agents need to learn inflation dynamics to form their inflation expectations and that they … believe a hybrid New-Keynesian Phillips Curve (NKPC) is the true data generating process of inflation, we aim at establishing … the role of forward-looking information in inflation expectation dynamics. We find that longer term expectations are …

hand and the inflation rate on the other hand. Empirically, we estimate this relationship by developing three different … markets for goods and services will push up inflation. We show the empirical relevance of the modified output gap for Spain …

Assuming that private agents need to learn inflation dynamics to form their inflation expectations and that they … believe a hybrid New-Keynesian Phillips Curve (NKPC) is the true data generating process of inflation, we aim at establishing … the role of forward-looking information in inflation expectation dynamics. We find that longer term expectations are …

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 …

Abstract: This paper examines the nexus between news coverage on inflation and households' inflation expectations. In … disconnection between news on inflation, consumers' frequency of expectation updating and the accuracy of their expectations. Our …

assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are … not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission’s Consumer … Survey data. The results suggest that expectations drive inflation with a lag of about 6 months, which casts further doubt on …

This paper discusses the likely evolution of U.S. inflation in the near and medium term on the basis of (1) past U ….S. experience with very low levels of inflation, (2) the most recent Japanese experience with deflation, and (3) recent U.S. micro … evidence on downward nominal wage rigidity. Our findings question the view that stable long-run inflation expectations and …

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 …

It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be …

Long-term bond yields contain a risk-premium, an important part of which is compensation for inflation risks. The …