Boca, Alessandra Del; Fratianni, Michele; Spinelli, Franco - Money and Finance Research group (Mo.Fi.R.) - 2010
The theme of this paper is whether there was a textbook-like Phillips Curve in post-WWII Italy. We estimate a standard model of the relationship between inflation and the level of real economic activity over the 1949-1998 period and find no evidence of a significant and positive feedback from...