Series: IMF Working Papers
Author(s): Sandeep Mazumder , and Laurence Ball
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2011
Keywords: Phillips curve, Great Recession, unemployment, actual inflation, monetary policy, inflation dynamics,
This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation...