Flattening of the Phillips Curve: Implications for Monetary Policy
Over the past decade, inflation has become less responsive to domestic demand pressures in many industrial countries. This development has been attributed, in part, to globalization forces. A small macroeconomic model, estimated on UK data using Bayesian estimation, is used to analyze the monetary p...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2007
|
| Series: | IMF Working Papers
Working Paper No. 07/76 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | Over the past decade, inflation has become less responsive to domestic demand pressures in many industrial countries. This development has been attributed, in part, to globalization forces. A small macroeconomic model, estimated on UK data using Bayesian estimation, is used to analyze the monetary policy implications of this structural change. The focus is on the implications of a globalization-related flattening of the Phillips curve for the trade-off between inflation and output gap variability and for the efficient monetary policy response rule |
| Physical Description: | 1 Online-Ressource (19 p) |
| ISBN: | 1451866402 9781451866407 |
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| spelling | Iakova, Dora M. Verfasser aut Flattening of the Phillips Curve Implications for Monetary Policy Iakova, Dora M Washington, D.C International Monetary Fund 2007 1 Online-Ressource (19 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/76 Over the past decade, inflation has become less responsive to domestic demand pressures in many industrial countries. This development has been attributed, in part, to globalization forces. A small macroeconomic model, estimated on UK data using Bayesian estimation, is used to analyze the monetary policy implications of this structural change. The focus is on the implications of a globalization-related flattening of the Phillips curve for the trade-off between inflation and output gap variability and for the efficient monetary policy response rule Online-Ausg http://elibrary.imf.org/view/IMF001/02560-9781451866407/02560-9781451866407/02560-9781451866407.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Iakova, Dora M. Flattening of the Phillips Curve Implications for Monetary Policy |
| title | Flattening of the Phillips Curve Implications for Monetary Policy |
| title_auth | Flattening of the Phillips Curve Implications for Monetary Policy |
| title_exact_search | Flattening of the Phillips Curve Implications for Monetary Policy |
| title_exact_search_txtP | Flattening of the Phillips Curve Implications for Monetary Policy |
| title_full | Flattening of the Phillips Curve Implications for Monetary Policy Iakova, Dora M |
| title_fullStr | Flattening of the Phillips Curve Implications for Monetary Policy Iakova, Dora M |
| title_full_unstemmed | Flattening of the Phillips Curve Implications for Monetary Policy Iakova, Dora M |
| title_short | Flattening of the Phillips Curve |
| title_sort | flattening of the phillips curve implications for monetary policy |
| title_sub | Implications for Monetary Policy |
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