Taking into account uncertainty over how to measure slack and inflation expectations, the Phillips curve is alive and well in the euro area. The dynamic factor model just discussed is not the only one that can explain the recent excessive disinflation.
There is a saying that knowledge is power. It is thus important that we empower our consumers of financial services with the knowledge in order for them to make informed financial decisions. The financial literacy of the average Namibian above the age of 16 was 4  calculated as 42.75% in 2013.