Inflation dynamics:
This paper first outlines the key stylized facts about changes in inflation dynamics in recent years: 1) inflation persistence has declined, 2) the Phillips curve has flattened, and 3) inflation has become less responsive to other shocks. These changes in inflation dynamics are interpreted as result...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
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| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13147 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper first outlines the key stylized facts about changes in inflation dynamics in recent years: 1) inflation persistence has declined, 2) the Phillips curve has flattened, and 3) inflation has become less responsive to other shocks. These changes in inflation dynamics are interpreted as resulting from an anchoring of inflation expectations as a result of better monetary policy. The paper then goes on to draw implications for monetary policy from this interpretation, as well as implications for inflation forecasts. |
| Beschreibung: | Literaturverz. S. 21 - 22 |
| Beschreibung: | 24 S. graph. Darst. 22 cm |
Internformat
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13147 | |
| 500 | |a Literaturverz. S. 21 - 22 | ||
| 520 | 8 | |a This paper first outlines the key stylized facts about changes in inflation dynamics in recent years: 1) inflation persistence has declined, 2) the Phillips curve has flattened, and 3) inflation has become less responsive to other shocks. These changes in inflation dynamics are interpreted as resulting from an anchoring of inflation expectations as a result of better monetary policy. The paper then goes on to draw implications for monetary policy from this interpretation, as well as implications for inflation forecasts. | |
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| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 13147 |w (DE-604)BV002801238 |9 13147 | |
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| indexdate | 2024-07-09T21:25:14Z |
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| spelling | Mishkin, Frederic S. 1951- Verfasser (DE-588)123920108 aut Inflation dynamics Frederic S. Mishkin Cambridge, Mass. National Bureau of Economic Research 2007 24 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13147 Literaturverz. S. 21 - 22 This paper first outlines the key stylized facts about changes in inflation dynamics in recent years: 1) inflation persistence has declined, 2) the Phillips curve has flattened, and 3) inflation has become less responsive to other shocks. These changes in inflation dynamics are interpreted as resulting from an anchoring of inflation expectations as a result of better monetary policy. The paper then goes on to draw implications for monetary policy from this interpretation, as well as implications for inflation forecasts. Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13147 (DE-604)BV002801238 13147 http://papers.nber.org/papers/w13147.pdf kostenfrei Volltext |
| spellingShingle | Mishkin, Frederic S. 1951- Inflation dynamics |
| title | Inflation dynamics |
| title_auth | Inflation dynamics |
| title_exact_search | Inflation dynamics |
| title_exact_search_txtP | Inflation dynamics |
| title_full | Inflation dynamics Frederic S. Mishkin |
| title_fullStr | Inflation dynamics Frederic S. Mishkin |
| title_full_unstemmed | Inflation dynamics Frederic S. Mishkin |
| title_short | Inflation dynamics |
| title_sort | inflation dynamics |
| url | http://papers.nber.org/papers/w13147.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT mishkinfrederics inflationdynamics |