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The Inflation-Unemployment Trade-Off At Low Inflation

Ricci, Luca Antonio - 2009

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation …

Persistent link: https://www.econbiz.de/10014402571

Inflation Targeting : Theory and Policy Implications

Green, J. H. - 1996

As with many monetary policy frameworks, inflation targeting is subject to the well-known problem of inflation bias. With inflation targeting, however, the bias becomes apparent not as inflation above desired levels, but as a wedge between the announced target and observed inflation. This...

Persistent link: https://www.econbiz.de/10014398141

Monetary Policy Credibility and the Unemployment-Inflation Tradeoff : Some Evidence From 17 Industrial Countries

N'Diaye, Papa M'B. P. - 2002

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation …

Persistent link: https://www.econbiz.de/10014399723

Institutions, Informality, and Wage Flexibility : Evidence From Brazil

Carvalho Filho, Irineu E. - 2012

unemployment, and end up being circumvented by informal contracts. This paper uses Brazilian microeconomic data to show that the … could have contributed to the ensuing higher rates of unemployment in the country. Moreover, the paper shows that states …

Persistent link: https://www.econbiz.de/10014396829

Inflation Targeting in the United Kingdom : Information Content of Financial and Monetary Variables

Baumgartner, Josef - 1996

The main objective of this paper is to identify a set of leading indicators of inflation for the United Kingdom, and discuss the conceptual issues pertaining to inflation targeting. The main conclusions are that narrow money has strong leading indicator properties for inflation, while broad...

Persistent link: https://www.econbiz.de/10014396188

The Bank of Canada's Monetary Policy Framework : Have Recent Changes Enhanced Central Bank Credibility?

Ito, Takatoshi - 1997

In recent years the Bank of Canada has made important changes in the way it conducts monetary policy. In particular, the bank has adopted explicit inflation targets and introduced significant changes to its operational framework designed to increase transparency and reduce market uncertainty....

Persistent link: https://www.econbiz.de/10014403335

Does Public Disagreementon Monetary Policy Unsettle the Markets?

Samiei, Hossein - 1997

Publication of minutes of monthly monetary policy meetings between the Chancellor of the Exchequer and the Governor of the Bank of England was a conspicuous feature of the United Kingdom’s inflation targeting framework from 1994 through April 1997. It was intended to reinforce credibility by...

Persistent link: https://www.econbiz.de/10014403354

Inflation Persistence in Brazil : A Cross Country Comparison

Roache, Shaun K. - 2014

Inflation persistence is sometimes defined as the tendency for price shocks to push the inflation rate away from its steady state—including an inflation target—for a prolonged period. Persistence is important because it affects the output costs of lowering inflation back to the target, often...

Persistent link: https://www.econbiz.de/10014411161

Models of Inflation and the Costs of Disinflation

Meredith, Guy - 1991

This paper focuses on the output costs of disinflation. A model of inflation with both forward and backward elements seems to characterize reality. Such an inflation model is estimated using data for industrial countries, and the output costs of a disinflation path are calculated, first...

Persistent link: https://www.econbiz.de/10014395898

Still Minding the Gap : Inflation Dynamics During Episodes of Persistent Large Output Gaps

Meier, André - 2010

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well below potential for an extended period. We find that such episodes generally brought about significant disinflation, underpinned by weak labor markets, slowing wage growth, and,...

Persistent link: https://www.econbiz.de/10014402668