Inflation Dynamics: The Role of Expectations

Ricardo Nunes

Journal of Money, Credit and Banking, 2010, vol. 42, issue 6, 1161-1172

Abstract: This paper estimates the Phillips curve allowing for a simultaneous role of rational and survey expectations. We consider both a reduced form and a structural specification of the Phillips curve. The results suggest that survey expectations can be a statistically significant component of firms' expectations and inflation dynamics. However, rational expectations continue to play a dominant role.

Date: 2010
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Citations: View citations in EconPapers (18)

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https://doi.org/10.1111/j.1538-4616.2010.00324.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:42:y:2010:i:6:p:1161-1172

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