This paper estimates a Dynamic Stochastic General Equilibrium (DSGE) model for the European Monetary Union using Bayesian techniques. A salient feature of the model is an extension of the typically postulated quadratic adjustment cost structure to amplify the persistence of inflation. The enlargement of the original formulation by Rotemberg (1982) and Hairault and Portier (1993) leads to a structurally more sophisticated hybrid inflation schedule than in the staggering environment of Calvo (1983). In particular, a desired lagged inflation term arises together with a two-period-ahead inflation expectation. The two terms are linked by a structural parameter. We confront this inflation schedule with European data and conclude that it has the potential to outperform its hybrid Calvo counterpart in terms of marginal likelihoods.