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The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy
DiNardo, John - 1999
inflation expectations. We develop this measure using assumptions common in economic analysis of open economies. Using quarterly …
Persistent link: https://www.econbiz.de/10012471456
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Productivity Growth and the Phillips Curve
Ball, Laurence - 2001
unemployment-inflation tradeoff since 1995 …
Persistent link: https://www.econbiz.de/10012470298
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Estimating the Long-Run Relationship Between Interest Rates and Inflation : A Response to McCallum
Summers, Lawrence H. - 1984
This note demonstrates that Bennett McCallum's recent critique of low frequency estimates of macro-economic relationships is of little empirical significance. It also demonstrates that readily available and frequently used techniques can be used to diagnose the problem McCallum raises. Finally,...
Persistent link: https://www.econbiz.de/10012477640
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Integration, Cointegration and the Forecast Consistency of Structural Exchange Rate Models
Cheung, Yin-Wong - 1997
, according to the Johansen procedure, cointegration fails to hold the farther out the forecasts extend. At the one year ahead …
Persistent link: https://www.econbiz.de/10012472881
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Cointegration and Tests of Present Value Models
Campbell, John Y. - 1986
In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the "spread" S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to induce...
Persistent link: https://www.econbiz.de/10012477190
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The Long-Run U.S./U.K. Real Exchange Rate
Engel, Charles - 1996
We investigate the behavior of the long-run U.S./U.K. real exchange rate from 1885 to 1995. Our long-run real exchange rate series is derived from an unobserved components model which divides the real exchange rate into permanent and transitory components. The transitory component is modeled as...
Persistent link: https://www.econbiz.de/10012473057
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Housing Demand and Remote Work
Mondragon, John; Wieland, Johannes - National Bureau of Economic Research - 2022
is likely to have large effects on the future path of house prices and inflation …
Persistent link: https://www.econbiz.de/10013210069
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The Band Pass Filter
Christiano, Lawrence J. - 1999
illustrate the use of this approximation, we use it to characterize the change in the nature of the Phillips curve and the money-inflation … change in money growth-inflation relation …
Persistent link: https://www.econbiz.de/10012471533
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Demand Variability, Supply Shocks and the Output-Inflation Tradeoff
Froyen, Richard T. - 1983
This paper examines the shift in the relation between the inflation rate and the rate of growth of real output which … possible lines of explanation: a) the new classical view of the output-inflation tradeoff, initially specified by Lucas;b) the … effect of supply-side shocks, such as energy prices; c) the effect of inflation variability on the natural rate of real …
Persistent link: https://www.econbiz.de/10012478022
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Anticipated Inflation, the Frequency of Transactions, and the Slope of the Phillips Curve
Hercowitz, Zvi - 1980
This paper examines the effects of expected inflation on the responsiveness of output to nominal disturbances in the … framework of a localized markets model. The mechanism described in the theoretical part of the paper is that expected inflation … sensitivity of real output to these socks. The empirical implication of this proposition -- namely ,that expected inflation …
Persistent link: https://www.econbiz.de/10012478618