Flattened inflation-output tradeoff and enhanced anti-inflation policy: outcome of globalization?
The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New-Keynesian framework. The main proposition of the paper is twofold. Labor, goods, and capital mobility flatten the tradeoff between inflation and activity. If policy makers are guided by...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13280 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New-Keynesian framework. The main proposition of the paper is twofold. Labor, goods, and capital mobility flatten the tradeoff between inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization forces also lead monetary policy to be more aggressive with regard to inflation fluctuations but, at the same time, more benign with respect to the output-gap fluctuations. |
| Beschreibung: | Literaturverz. S. 20 - 21 |
| Beschreibung: | 26 S. 22 cm |
Internformat
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| id | DE-604.BV023593183 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2024-07-09T21:25:14Z |
| institution | BVB |
| language | English |
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| physical | 26 S. 22 cm |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Razin, Asaf 1941- Verfasser (DE-588)124527051 aut Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? Assaf Razin ; Alon Binyamini Cambridge, Mass. National Bureau of Economic Research 2007 26 S. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13280 Literaturverz. S. 20 - 21 The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New-Keynesian framework. The main proposition of the paper is twofold. Labor, goods, and capital mobility flatten the tradeoff between inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization forces also lead monetary policy to be more aggressive with regard to inflation fluctuations but, at the same time, more benign with respect to the output-gap fluctuations. Binyamini, Alon Verfasser (DE-588)133564894 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13280 (DE-604)BV002801238 13280 http://papers.nber.org/papers/w13280.pdf kostenfrei Volltext |
| spellingShingle | Razin, Asaf 1941- Binyamini, Alon Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? |
| title | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? |
| title_auth | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? |
| title_exact_search | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? |
| title_exact_search_txtP | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? |
| title_full | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? Assaf Razin ; Alon Binyamini |
| title_fullStr | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? Assaf Razin ; Alon Binyamini |
| title_full_unstemmed | Flattened inflation-output tradeoff and enhanced anti-inflation policy outcome of globalization? Assaf Razin ; Alon Binyamini |
| title_short | Flattened inflation-output tradeoff and enhanced anti-inflation policy |
| title_sort | flattened inflation output tradeoff and enhanced anti inflation policy outcome of globalization |
| title_sub | outcome of globalization? |
| url | http://papers.nber.org/papers/w13280.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT razinasaf flattenedinflationoutputtradeoffandenhancedantiinflationpolicyoutcomeofglobalization AT binyaminialon flattenedinflationoutputtradeoffandenhancedantiinflationpolicyoutcomeofglobalization |