Dovern, Jonas Doepke, Joerg Fritsche, Ulrich Slacalek, Jirka
Year of Publication:
DEP (Socioeconomics) Discussion Papers, Macroeconomics and Finance Series 4/2006
We estimate the sticky information Phillips curve model ofMankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in Italy about once each six months.
Inflation expectations sticky information Phillips curve inflation persistence