Download or read book Inflation Persistence and the Phillips Curve Revisited written by Marika Karanassou and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Persistence and the Phil l ips Curve Revisited written by Marika Karanassou and published by . This book was released on 2007 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Persistence Noisy Information and the Phillips Curve written by José-Elías Gallegos and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Inflation and the Implications for Monetary Policy written by Jeff Fuhrer and published by MIT Press. This book was released on 2009-09-11 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment. In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. Contributors Lawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
Download or read book After the Phillips curve persistence of high inflation and high unemployment written by and published by . This book was released on 1978 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Elusive Persistence written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Phillips Curve the Persistence of Inflation and the Lucas Critique written by Clemens Joannes Maria Kool and published by . This book was released on 1997 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trend Inflation and Inflation Persistence in the New Keynesian Phillips Curve written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Note on Inflation Persistence written by Steinar Holden and published by . This book was released on 2001 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomists have for some time been aware that the New Keynesian Phillips curve, though highly popular in the literature, cannot explain the persistence observed in actual inflation. We argue that two of the more prominent alternative formulations, the Fuhrer and Moore (1995) relative contracting model and the Blanchard and Katz (1999) reservation wage conjecture, are highly problematic. Fuhrer and Moore (1995)'s formulation generates inflation persistence, but this is a consequence of their assuming that workers care about the past real wages of other workers. Making the more reasonable assumption that workers care about the current real wages of other workers, one obtains the standard formulation with no inflation persistence. The Blanchard and Katz conjecture turns out to imply that inflation depends negatively on itself lagged, i.e. the opposite of the empirical regularity
Download or read book After the Phillips Curve written by and published by . This book was released on 1979 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sectoral Inflation and the Phillips Curve written by María José Luengo-Prado and published by . This book was released on 2017 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using sectoral data at a medium level of aggregation, we find that price changes became less responsive to aggregate unemployment around 2009-2010. The slopes of the disaggregated Phillips curves diminished in many sectors, including housing and some services. We also document a decrease in sectoral inflation persistence, suggesting an increase in the weight of the forward-looking inflation expectation component and a decrease in the weight of the backward-looking component.
Download or read book A Phillips Curve with Anchored Expectations and Short Term Unemployment written by Laurence M. Ball and published by International Monetary Fund. This book was released on 2015-02-25 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including the failure of high total unemployment since 2008 to reduce inflation greatly. The fit of our equation is especially good when we measure core inflation with the Cleveland Fed’s series on weighted median inflation. We also propose a more general Phillips curve in which core inflation depends on short-term unemployment and on expected inflation as measured by the Survey of Professional Forecasters. This specification fits U.S. inflation since 1985, including both the anchored-expectations period of the 2000s and the preceding period when expectations were determined by past levels of inflation.
Download or read book Inflation Persistence Backward Looking Firms and Monetary Policy in an Input Output Economy written by Brad E. Strum and published by DIANE Publishing. This book was released on 2011-04 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the implications of inflation persistence (generated by backward-looking price setters) for monetary policy in a New Keynesian "input-output" model -- a model with sticky prices in both intermediate and final goods sectors. Optimal policy under commitment depends on the degree of inflation persistence in both sectors. Under discretion, speed-limit targeting -- targeting the change in the output gap -- outperforms price-level and inflation targeting in the presence of inflation persistence. If inflation persistence is low in the intermediate goods sector, price-level targeting outperforms in inflation targeting despite high inflation persistence in the final goods sector. Illus. This is a print on demand edition of an important, hard-to-find publication.
Download or read book Labour Market Planning Revisited written by M. Hopkins and published by Springer. This book was released on 2002-09-05 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book enables the reader to understand labour markets and shows how to forecast the need for skills in developing countries. The forecasting of these skills has recently fallen into disrepute with the notion that all forecasting techniques that assessed the labour market requirements of the future were dubious and that the future lay with labour market analysis and labour market signalling. This book disputes this but acknowledges that the models of the past should be supplemented with better data and improved labour market analysis and in doing so produces its own model for analysing the needs of labour markets.
Download or read book Phillips Curves and Unemployment Dynamics written by Marika Karanassou and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU. The labour macro literature tries to explain unemployment dynamics and determine the real economic factors that drive the natural rate of unemployment. We show that the orthodox view that the New Keynesian Phillips curve is vertical in the long-run and that it cannot generate substantial inflation persistence relies on the implausible assumption of a zero interest rate. In the light of these results, we argue that a holistic framework is needed to jointly explain the evolution of inflation and unemployment"--Forschungsinstitut zur Zukunft der Arbeit web site.
Download or read book Labormetrics written by Lutz Bellmann and published by Walter de Gruyter GmbH & Co KG. This book was released on 2016-11-21 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book P Revisited written by Athanasios Orphanides and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
