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Identification of inflation-unemployment tradeoffs in the 1970s

McCallum, Bennett T. - Federal Reserve Bank of Chicago - 1994

Persistent link: https://www.econbiz.de/10005519107

Stock, James H.; Watson, Mark W. - In: Conference Series ; [Proceedings] 53 (2008)

This paper surveys the literature since 1993 on pseudo out-of-sample evaluation of inflation forecasts in the United States and conducts an extensive empirical analysis that recapitulates and clarifies this literature using a consistent data set and methodology. The literature review and...

Persistent link: https://www.econbiz.de/10005498278

Hysteresis in unemployment

Ball, Laurence - In: Conference Series ; [Proceedings] 53 (2008)

Hysteresis is central to long-run unemployment movements in many countries. This essay addresses two broad issues. The … NAIRU, and hence the long run behavior of unemployment, is independent of aggregate demand? The second broad issue is the … nature of hysteresis. Through what mechanisms do short-run unemployment movements influence the NAIRU? What determines the …

Persistent link: https://www.econbiz.de/10005498290

Thoughts about the Phillips curve

Samuelson, Paul A. - In: Conference Series ; [Proceedings] 53 (2008)

Paul Samuelson could not attend, yet he kindly forwarded commentary for distribution at the conference.

Persistent link: https://www.econbiz.de/10005498294

Lessons for central bankers from a Phillips curve framework

Kohn, Donald L. - In: Conference Series ; [Proceedings] 53 (2008)

The author's comments focus on how the lessons from recent research on the Phillips curve are helping him think about the influence of fluctuations in the prices of commodities, such as oil, on the outlook for inflation and the appropriate policy responses to such developments.

Persistent link: https://www.econbiz.de/10005498295

Understanding inflation and the implications for monetary policy: a Phillips curve retrospective

In: Conference Series ; [Proceedings] 53 (2008)

It has been fifty years since A.W. Phillips published the famous article on inflation and unemployment that established … concepts in discussing the influence of demand growth on inflation, as well as the relationship between unemployment, wages and …

Persistent link: https://www.econbiz.de/10005498299

Inflation expectations, uncertainty, the Phillips curve, and monetary policy

Sims, Christopher A. - In: Conference Series ; [Proceedings] 53 (2008)

As with many important theories, the long run value of Phillips curve theories may lie in the new flames that are emerging from its dying embers.

Persistent link: https://www.econbiz.de/10005498307

Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments

Kiley, Michael T. - In: Conference Series ; [Proceedings] 53 (2008)

Historical experience suggests an important role for some deviation from the most restricted form of rational expectations in inflation dynamics, but also shows that other aspects of sluggish price adjustment – such as nominal rigidities, are important; and the available indicators of...

Persistent link: https://www.econbiz.de/10005498329

On implications of micro price data for macro models - comments

Midrigan, Virgiliu - In: Conference Series ; [Proceedings] 53 (2008)

The author discusses: the challenges the wealth of micro-data has posed to macroeconomists and some of the progress made to address these; the fact that an important number of price changes in the data are temporary discounts (sales); and the complicated mapping from the frequency of price...

Persistent link: https://www.econbiz.de/10005498331

Inflation and unemployment : a layperson's guide to the Phillips curve. 2006 annual report of the Federal Reserve Bank of Richmond

Lacker, Jeffrey M.; Weinberg, John A. - In: Annual Report (2006), pp. 5-29

Persistent link: https://www.econbiz.de/10005387170