Similar Search Results

Inflation expectation uncertainty in a New Keynesian framework

Fuest, Angela; Schmidt, Torsten - 2020

einem DSGE-Modell, dass der Nachfragekanal den Angebotskanal eines Unsicherheitsschocks der Inflationserwartung dominiert. …

Persistent link: https://www.econbiz.de/10012308599

Inflation thresholds and inattention

Bracha, Anat; Tang, Jenny - 2019 - This version: September, 2019

Inflation expectations are key to economic activity, and in the current economic climate of a heated labor market, they are central to the policy debate. At the same time, a growing literature on inattention suggests that individuals, and therefore individual behavior, may not be sensitive to...

Persistent link: https://www.econbiz.de/10012135707

Downward nominal wage rigidity and the long-run Philips Curve

Coenen, Günter - 2003

This paper summarises the results of a quantitative study of the possible impact of downward nominal wage rigidity on the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve. The study was undertaken in the context of the review of...

Persistent link: https://www.econbiz.de/10009635901

The economics of the Phillips Curve : formation of inflation expectations versus incorporation of inflation expectations

Palley, Thomas I. - 2011

This paper examines the theory of the Phillips curve, focusing on the distinction between "formation" of inflation … expectations and "incorporation" of inflation expectations. Phillips curve theory has largely focused on the former. Explaining the … Phillips curve by reference to expectation formation keeps Phillips curve theory in the policy orbit of natural rate thinking …

Persistent link: https://www.econbiz.de/10009530400

The Output Gap, Expected Future Inflation and Inflation Dynamics : Another Look

Mehra, Yash P. - 2012

The empirical test of the output gap-based New Keynesian Phillips curve often has been implemented by estimating a hybrid specification that includes both lagged and future inflation and then by examining whether the estimated coefficient on future inflation is significantly larger than the one...

Persistent link: https://www.econbiz.de/10013097078

Estimating Open Economy Phillips Curves for the Euro Area with Directly Measured Expectations

Paloviita, Maritta - 2008

This paper examines euro area inflation dynamics by estimating open economy New Keynesian Phillips curves based on the assumption that all imports are intermediate goods. Instead of imposing rational expectations a priori, Consensus Economics survey data and OECD inflation forecasts are used to...

Persistent link: https://www.econbiz.de/10012723885

Estimating the New Keynesian Phillips Curve Using Expected Inflation from Financial Market Instruments

McCown, James Ross - 2020

We estimate the New Keynesian Phillips Curve for the USA from 1997 to 2019 using expected inflation from financial instruments. We use a spliced series comprised of the TIPS spread and inflation swaps. Empirical tests find higher coefficients on backward-looking inflation than forward-looking,...

Persistent link: https://www.econbiz.de/10012856290

Behavioral heterogeneity in US inflation dynamics

Cornea, Adriana; Hommes, Cars H.; Massaro, Domenico - 2013

Persistent link: https://www.econbiz.de/10010191432

Modelling Inflation in the Euro Area

Jansen, Eilev S. - 2021

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation equation of the Area Wide model (AWM) - cf. Fagan, Henry...

Persistent link: https://www.econbiz.de/10013319393

Downward Nominal Wage Rigidity and the Long-Run Phillips Curve : Simulation-Based Evidence for the Euro Area?

Coenen, Günter - 2021

Persistent link: https://www.econbiz.de/10013319711