BALABAN, Georgiana; VÎNTU, Denis - In: Theoretical and Applied Economics 4(545) (2010) 4(545), pp. 101-120
This paper studies the nonlinearity of the Phillips Curve and its implications for monetary policy. To investigate the trade-off between output gap and inflation volatility we used a backward-looking model type. The data for our empirical analysis is obtained from the Area Wide Model (AWM)...