betrachtet dazu die Inflationsdynamiken in sechs verschiedenen Ländern (USA, Großbritannien, Deutschland, Frankreich, Kanada und …This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … six countries (US, UK, Germany, France, Canada, and Japan). We evaluate the models‘ abilities to match empirical second …

We investigate the relevance of the Carroll's sticky information model of inflation expectations for four major … European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation … expectations we argue that the model adequately captures the dynamics of household inflation expectations. We estimate two …

Despite closing output gaps and tightening labor markets, inflation has remained low inthe euro area. Based on an … augmented Phillips Curve framework, we find that thisphenomenon-sometimes attributed to low global inflation-has been primarily … causedby a remarkable persistence of inflation, keeping it low despite the reduction in slack. Thisfeature is shown to be …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a …

during and following the recent Great Recession, and that models in which inflation depends on economic slack cannot explain … the recent muted behavior of inflation, given the sharp drop in output that occurred in 2008-09. In this paper, we use a … protracted decline in inflation. The model does so even though inflation remains very dependent on the evolution of both economic …

One of the most surprising features of the long current expansion has been the decline in price inflation through the … late 1990s. Some observers interpret the decline as evidence of a permanent change in the relationship between inflation … - most notably, a decrease in import prices - can account for the low inflation rates in recent years …

This paper investigates the accuracy and heterogeneity of output growth and inflation forecasts during the current and …

This paper investigates the accuracy and heterogeneity of output growth and inflation forecasts during the current and …

This paper investigates the accuracy and heterogeneity of output growth and inflation forecasts during the current and …