The present paper uses survey data on expected consumer price developments to analyse the role of inflation expectations in the inflation process. The survey measures of price expectations are derived from the European Commission's Consumer Survey and from the surveys of professional experts...

This paper investigates the pricy-setting behavior of suppliers of imports. The ad-hoc estimation of error-correction models for the U.S., Japan, Germany, France, and Italy indicates that changes in the real exchange rate are not fully passed through into import prices, not even in the long run....