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Sticky Information Phillips Curves: European Evidence
Author(s) -
DÖPKE JÖRG,
DOVERN JONAS,
FRITSCHE ULRICH,
SLACALEK JIRI
Publication year - 2008
Publication title -
journal of money, credit and banking
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.763
H-Index - 108
eISSN - 1538-4616
pISSN - 0022-2879
DOI - 10.1111/j.1538-4616.2008.00169.x
Subject(s) - phillips curve , inflation (cosmology) , economics , econometrics , keynesian economics , monetary policy , physics , theoretical physics
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, while in Italy, about once each 6 months.