Sticky Information Phillips Curves: European Evidence

Discussion Papers 615, 8 S.

Jörg Döpke, Jonas Dovern, Ulrich Fritsche, Jiri Slacalek

2006. Sep.

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Abstract

We estimate the sticky information Phillips curve model of Mankiw 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.



JEL-Classification: D84;E31
Keywords: Inflation expectations, sticky information, Phillips curve, inflation persistence
Frei zugängliche Version: (econstor)
http://hdl.handle.net/10419/18508