Ormerod, Paul; Rosewell, Bridget; Phelps, Peter - 2009
Monetary Fund (IMF) reports that in many countries across the world, inflation is less
sensitive to business cycles in the 1990s than before (IMF, 2006). Various aspects of the instability in
the …).
It has also been suggested that production costs have become less sensitive to the business cycle. In
the case of … Open Economy New Keynesian Phillips Curve for
the UK”, Journal of Monetary Economics, 52, pp. 1061‐1071.
4. C. Bean, “Globalisation and Inflation”, Speech to LSE Economics …