Series: IMF Working Papers
Author(s): Nicolas Sobczak
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 1998
Keywords: inflation, relative price, fall in inflation, monetary policy, real wages
This paper investigates the causes of the recent disinflation in Spain. A standard Phillips curve model is used to disentangle the contributions of three possible shocks: an adverse demand shock that raises unemplo...