Nonparametric Hybrid Phillips Curves Based on Subjective Expectations: Estimates for the Euro Area

Marco Gross

No 1119, Working Paper Series from European Central Bank

Abstract: This paper addresses the estimation of Phillips curve equations for the euro area while employing less stringent assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission JEL Classification: C14, E31, E32

Keywords: inflation; monetary policy; non- and semiparametric econometrics; Phillips curve; survey expectations (search for similar items in EconPapers)
Date: 2009-12
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac and nep-mon
Note: 3098116
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20091119

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