in principle less restrictive approach is applied to operationalising expectations. Direct measures of inflation … expectations, ie 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 …

inflation and unemployment. Lately there have been several studies which claim that the slope of the Phillips curve is a …

inflation and unemployment. Lately there have been several studies which claim that the slope of the Phillips curve is a …

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 … forward-looking, so that inflation cannot instantaneously adjust to new information. Consequently, even allowing for possible …

The present study examines empirically the inflation dynamics of the euro area. The focus of the analysis is on the … role of expectations in the inflation process. In six articles we relax rationality assumption and proxy expectations … curve specifications and find evidence that inflation cannot instantaneously adjust to changes in expectations. A possible …

the monthly inflation rate in Turkey for the period of 1987-2004. The results show that the Turkish Phillips curve is not … linear. There exists no evidence on the asymmetry in the inflation response to output gap. The persistence of inflation is … found to be much lower than in linear models. After 2001 slight decline in persistence of inflation is observed. …

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 …

During the recovery from the Great Recession, inflation did not reach the central bank's 2 percent objective as quickly … contestable and damped retail inflation. This hypothesis is tested using data on the online share of retail sales, which are … sensitivity of inflation to unemployment rate changes. Improvement in fit from just including the online share is tiny—so far …

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative … relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …