Bericht
Analysing euro area inflation outlook with the Phillips curve
This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook. Our NKPC specification, that relies on market- and survey-based inflation expectations, explains well euro area inflation dynamics. Its forecasting performance is also comparable to the performance of the ECB's official forecasts in both short- and long-horizons. Overall, the NKPC is a useful tool for monitoring euro area inflation outlook. Thanks to its fast and light updating procedure it provides almost real-time information on inflation outlook.
- Language
-
Englisch
- Bibliographic citation
-
Series: BoF Economics Review ; No. 5/2021
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
- Subject
-
euro area
inflation expectations
inflation forecasting
Phillips curve
- Event
-
Geistige Schöpfung
- (who)
-
Oinonen, Sami
Vilmi, Lauri
- Event
-
Veröffentlichung
- (who)
-
Bank of Finland
- (where)
-
Helsinki
- (when)
-
2021
- Handle
- URN
-
urn:nbn:fi:bof-202109081419
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Bericht
Associated
- Oinonen, Sami
- Vilmi, Lauri
- Bank of Finland
Time of origin
- 2021
Other Objects (12)
Demographic aging and the New Keynesian Phillips Curve
The nonlinearity of the Phillips curve and European monetary policy
Comparing alternative Phillips curve specifications: European results with survey-based expectations
Updating the euro area Phillips curve: the slope has increased
Forecasting inflation with the New Keynesian Phillips curve: Frequency matters
Yield curve control
Yield curve momentum
The use of real time information in Phillips curve relationships for the euro area
The Phillips Curve at 60: time for time and frequency
Estimating open economy Phillips curves for the euro area with directly measured expectations
The effects of conventional and unconventional monetary policy: Identification through the yield curve
The co-movements along the forward curve of natural gas futures: a structural view
Demographic aging and the New Keynesian Phillips Curve
The nonlinearity of the Phillips curve and European monetary policy
Comparing alternative Phillips curve specifications: European results with survey-based expectations
Updating the euro area Phillips curve: the slope has increased
Forecasting inflation with the New Keynesian Phillips curve: Frequency matters
Yield curve control
Yield curve momentum
The use of real time information in Phillips curve relationships for the euro area
The Phillips Curve at 60: time for time and frequency
Estimating open economy Phillips curves for the euro area with directly measured expectations
The effects of conventional and unconventional monetary policy: Identification through the yield curve
The co-movements along the forward curve of natural gas futures: a structural view
Demographic aging and the New Keynesian Phillips Curve
The nonlinearity of the Phillips curve and European monetary policy
Comparing alternative Phillips curve specifications: European results with survey-based expectations
Updating the euro area Phillips curve: the slope has increased
Forecasting inflation with the New Keynesian Phillips curve: Frequency matters
Yield curve control
Yield curve momentum
The use of real time information in Phillips curve relationships for the euro area
The Phillips Curve at 60: time for time and frequency
Estimating open economy Phillips curves for the euro area with directly measured expectations
The effects of conventional and unconventional monetary policy: Identification through the yield curve