Is the Inflation-Output Nexus Asymmetric in the Euro Area?

This paper challenges the assumption that the inflation process within the euro area is well-described by a linear Phillips curve and investigates in a nonparametric framework how inflation is sensitive to output growth. An asymmetric output-inflation trade-off is pointed out in the euro area at both aggregated and individual country levels.

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Year of publication:	2006
Authors:	Baghli, M. ; Cahn, C. ; Fraisse, H.
Institutions:	Banque de France
Subject:	Nonlinear Phillips curve \| Price stability \| Kernel smoothing

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Extent:	application/pdf
Series:	Working papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	23 pages
Classification:	C14 - Semiparametric and Nonparametric Methods ; C32 - Time-Series Models ; E31 - Price Level; Inflation; Deflation ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004998830