Working Paper

Sticky Information Phillips Curve: European Evidence

Authors

  • Jonas Dovern
  • Ulrich Fritsche
  • Jiri Slacalek
  • Jörg Döpke
Publication Date

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.

Info

JEL Classification
D84, E31

Key Words

  • inflation expectations
  • inflation perstistence
  • Phillips curve
  • Phillips-Kurve
  • sticky information