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A Phillips Curve with Anchored Expectations and Short-Term Unemployment

A Phillips Curve with Anchored Expectations and Short-Term Unemployment »

Source: A Phillips Curve with Anchored Expectations and Short-Term Unemployment

Volume/Issue: 2015/39

Series: IMF Working Papers

Author(s): Laurence Ball , and Sandeep Mazumder

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2015

ISBN: 9781498394208

Keywords: Phillips curve, expectations, recession, Phillips curve.,

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 ta...

A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic

A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic »

Source: A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic

Volume/Issue: 2004/45

Series: IMF Working Papers

Author(s): Jaromir Benes , and Papa N'Diaye

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451846508

Keywords: Phillips Curve, nairu, equation, equations, covariance,

This paper presents a multivariate (MV) methodology for obtaining measures of excess demand that can facilitate discussion of monetary policy issues and improve policy decisions. Using data for the Czech Republic,...

A Phillips Curve with Anchored Expectations and Short-Term Unemployment

A Phillips Curve with Anchored Expectations and Short-Term Unemployment »

Volume/Issue: 2015/39

Series: IMF Working Papers

Author(s): Laurence Ball , and Sandeep Mazumder

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 February 2015

DOI: http://dx.doi.org/10.5089/9781498394208.001

ISBN: 9781498394208

Keywords: Phillips curve, expectations, recession, Phillips curve.,

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 ta...

Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating

Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating »

Source: Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating

Volume/Issue: 1997/17

Series: IMF Working Papers

Author(s): Douglas Laxton , and Peter Clark

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1997

ISBN: 9781451843507

Keywords: Phillips curve, Unemployment, nairu, unemployment rate, inflation rate

Most empirical work on the U.S. Phillips curve has had a strong tendency to impose global linearity on the data. The basic objective of this paper is to reconsider the issue of nonlinearity and to underscore its im...

Why Has Inflation in the United States Remained So Low? Reassessing the Importance of Labor Costs and the Price of Imports

Why Has Inflation in the United States Remained So Low? Reassessing the Importance of Labor Costs and the Price of Imports »

Source: Why Has Inflation in the United States Remained So Low? Reassessing the Importance of Labor Costs and the Price of Imports

Volume/Issue: 1999/149

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , and Stephen Tokarick

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1999

ISBN: 9781451856873

Keywords: labor costs, Phillips curve, price inflation, labor share, labor statistics

This paper examines some of the factors that have been influential in keeping inflation low in the United States during 1995–98, despite strong growth and high levels of employment. Our results identify thre...

What Type of Contracts Underlie Aggregate Wage Dynamics?*

What Type of Contracts Underlie Aggregate Wage Dynamics?* »

Source: What Type of Contracts Underlie Aggregate Wage Dynamics?

Volume/Issue: 1997/67

Series: IMF Working Papers

Author(s): Esteban Jadresic

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1997

ISBN: 9781451961621

Keywords: Contracts, Phillips Curve, wage, equation, minimum wage, standard errors

This paper shows that it is possible to estimate the importance of different types of wage contracts at the aggregate level using the same data used to estimate standard Phillips curves. It finds that the behavior...

Explaining the Recent Behavior of Inflation and Unemployment in the United States1

Explaining the Recent Behavior of Inflation and Unemployment in the United States1 »

Source: Explaining the Recent Behavior of Inflation and Unemployment in the United States

Volume/Issue: 1998/145

Series: IMF Working Papers

Author(s): Vincent Hogan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1998

ISBN: 9781451856514

Keywords: Phillips Curve, nairu, unemployment, unemployment rate, rate of unemployment

Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon could be the result of a series of transitory shocks or of a permanent change in the structure...

Explaining Inflation in Colombia: A Disaggregated Phillips Curve Approach

Explaining Inflation in Colombia: A Disaggregated Phillips Curve Approach »

Source: Explaining Inflation in Colombia: A Disaggregated Phillips Curve Approach

Volume/Issue: 2018/106

Series: IMF Working Papers

Author(s): Sergi Lanau , Adrian Robles , and Frederik Toscani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2018

ISBN: 9781484354827

Keywords: Western Hemisphere, Colombia, Inflation Components, Phillips Curve, Forecast, Forecasting and Simulation

We study inflation dynamics in Colombia using a bottom-up Phillips curve approach. This allows us to capture the different drivers of individual inflation components. We find that the Phillips curve is relatively f...

Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy

Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy »

Source: Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy

Volume/Issue: 2018/242

Series: IMF Working Papers

Author(s): Mitsuru Katagiri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 November 2018

ISBN: 9781484382370

Keywords: Term premiums, Phillips curve, Low-for-long, Monetary Policy (Targets, Instruments, and Effects), Asset Pricing

Upward sloping yield curves are hard to reconcile with the positive association between income and inflation (the Phillips curve) in consumption-based asset pricing models. Using US and UK data, this paper shows in...

Is Inflation Domestic or Global? Evidence from Emerging Markets*

Is Inflation Domestic or Global? Evidence from Emerging Markets* »

Source: Is Inflation Domestic or Global? Evidence from Emerging Markets

Volume/Issue: 2018/241

Series: IMF Working Papers

Author(s): Rudolfs Bems , Francesca Caselli , Francesco Grigoli , Bertrand Gruss , and Weicheng Lian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484381595

Keywords: Globalization, Inflation, Emerging markets, Inflation expectations, Central banks and their policies, Phillips Curve, Globalization: Macroeconomic Impacts

Following a period of disinflation during the 1990s and early 2000s, inflation in emerging markets has remained remarkably low and stable. Was this related to a global disinflation environment triggered by China's...