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The purpose of this paper is to test the general validity of the NKPC previsions for the Italian manufacturing industries. In particular we are interested in estimating the extent to which the degree of nominal inertia and the fraction of backward-looking price-setters differ from industry to...
Persistent link: https://www.econbiz.de/10010312509
Since 2000 U.S. inflation has remained both below target and silent to domestic slack and monetary interventions. A … inflation. The trend analysis shows that, starting from the '90s, despite very well-anchored expectations, slow-moving imported … "cost-push" factors induced deflationary pressure keeping trend inflation below target. The cycle block provides evidence in …
Persistent link: https://www.econbiz.de/10012795587
The authors solve the IS puzzle for the G7 countries. They find that five of the G7 countries have the expected significant negative relationship between the output gap and the realrate gap; the time series of the remaining two show material deviation from expected IScurve behavior. The authors...
Persistent link: https://www.econbiz.de/10011650342
The authors solve the IS puzzle for the G7 countries. They find that five of the G7 countries have the expected significant negative relationship between the output gap and the real-rate gap; the time series of the remaining two show material deviation from expected IS-curve behavior. The...
Persistent link: https://www.econbiz.de/10011917259
/tightness and inflation expectations, contributing to the debate on the relevance of the Phillips curve in South Africa, where … previous findings have been inconclusive. Our analysis reveals that long-run inflation expectations are the primary driver of … inflation, with these expectations anchored around 5% historically but declining since the financial crisis. This trend suggests …
Persistent link: https://www.econbiz.de/10014314767
We explore the relationship between inequality, unemployment, and inflation by considering the evidence that low …-and-flow consistent agent-based model by Rolim et al. (2023), in which inflation and inequality result from the social conflict over … income distribution. The inflation-unemployment-inequality nexus leads to the inequality-augmented Phillips curve relating …
Persistent link: https://www.econbiz.de/10014327420
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010325611
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010332011
-run inflation-unemployment tradeoff. …
Persistent link: https://www.econbiz.de/10010265568
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010273150