Hysteresis in unemployment - comments

Larry Ball’s paper contains two basic ideas. The first is a second generation Phillips Curve which relates changes in inflation to the level of the unemployment rate and the second is the idea that monetary policy has extremely persistent effects on the unemployment rate, well beyond effects over the business cycle.

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Year of publication:	2008
Authors:	Chari, V. V.
Published in:	Conference Series ; [Proceedings]. - Federal Reserve Bank of Boston. - Vol. 53.2008
Publisher:	Federal Reserve Bank of Boston
Subject:	Inflation (Finance) \| Unemployment \| Phillips curve

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published in Understanding inflation and the implications for monetary policy: a Phillips curve retrospective (2008: June 9-11)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005712105