Sticky Information Phillips Curves: European Evidence |
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| Authors: | JÖRG DÖPKE JONAS DOVERN ULRICH FRITSCHE JIRI SLACALEK |
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| Affiliation: | 1. J?rg D?pke is at the Department of Economics, University of Applied Sciences, Merseburg, Germany (E‐mail: joerg.doepke@hs‐merseburg.de).;2. Jonas Dovern is at Kiel Institute for the World Economy (IfW Kiel) (E‐mail: jonas.dovern@ifw‐kiel.de).;3. Ulrich Fritsche is at the Department of Economics and Politics, University of Hamburg, and DIW Berlin (E‐mail: ulrich.fritsche@wiso.uni‐hamburg.de).;4. Jiri Slacalek is at the European Central Bank (E‐mail: jiri.slacalek@ecb.int). |
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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, while in Italy, about once each 6 months. |
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| Keywords: | D84 E31 inflation expectations sticky information Phillips curve inflation persistence |
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