Does Global Slack Matter More than Domestic Slack in Determining U.S. Inflation?

This paper employs a structural model to estimate whether global output gap has become an important determinant of U.S. inflation dynamics. The results provide support for the relevance of global slack as a determinant of U.S. inflation after 1985. The role of domestic output gap, instead, seems to have diminished over time.

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Year of publication:	2008-11
Authors:	Milani, Fabio
Institutions:	Department of Economics, University of California-Irvine
Subject:	Globalization \| Global Slack \| Inflation Dynamics \| Phillips Curve \| Bayesian Estimation

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 080910 12 pages
Classification:	E31 - Price Level; Inflation; Deflation ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004977962