Working Paper
Sticky Information Phillips Curve: European Evidence
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.
Key Words
- inflation expectations
- inflation perstistence
- Phillips curve
- Phillips-Kurve
- sticky information