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

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 inflation expectations show that imperfect information regarding central bank intentions has been one source of inertia in inflation expectations.

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Year of publication:	2008
Authors:	Kiley, Michael T.
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/10005498329