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The Return of the Original Phillips curve? An Assessment of Lars E. O. Svensson's Critique of the Riksbank's Inflation Targeting, 1997-2012
Andersson, Fredrik N. G.; Jonung, Lars - Nationalekonomiska Institutionen, Ekonomihögskolan - 2014
unemployment and monetary policy in a small open economy such as Sweden. Third, we do not want to overburden Swedish monetary … the Phillips curve based on constant inflation expectations has returned for Sweden. Based on estimates of this model …
Persistent link: https://www.econbiz.de/10011019080
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The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21
United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and … long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below …
Persistent link: https://www.econbiz.de/10013179358
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Exchange Rate Pass-Through & Management of Inflation Expectation in a Small Open Inflation Targeting Economy
Nasir, Muhammad Ali - 2019
augment the inflation expectations function with GDP, inflation, unemployment, fiscal stance, oil prices, and money supply …
Persistent link: https://www.econbiz.de/10012871795
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The Possible Unemployment Cost of Average Inflation Below a Credible Target. A Replication Study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of Comments and Replications in Economics (JCRE) 1 (2022) 2022-2, pp. 1-21
United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and … long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below …
Persistent link: https://www.econbiz.de/10013190400
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Inflation Expectations, the Phillips Curve and Monetary Policy
Millet, Fabien Curto - Institut für Weltwirtschaft (IfW) - 2007
Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the real and monetary sides of the economy; yet, direct empirical research on the matter has been scarce at best. This paper therefore examines the empirical properties of inflation...
Persistent link: https://www.econbiz.de/10005700546
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Inflation Expectations, the Phillips Curve and Monetary Policy
Curto Millet, Fabien - 2007
Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the real and monetary sides of the economy; yet, direct empirical research on the matter has been scarce at best. This paper therefore examines the empirical properties of inflation...
Persistent link: https://www.econbiz.de/10010271069
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011540769
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Ambiguity, Monetary Policy and Trend Inflation
Masolo, Riccardo - 2015
We develop a model that can explain the evolution of trend inflation in the United States in the three decades before the Great Recession as a function of the reduction in uncertainty about the monetary policy maker's behaviour. The model features ambiguity-averse agents and ambiguity regarding...
Persistent link: https://www.econbiz.de/10013011433
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Are Long-Term Inflation Expectations Well Anchored in Brazil, Chile and Mexico?
De Pooter, Michiel - 2015
In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and Mexico. We do so using survey-based measures as well as financial market-based measures of long-term inflation expectations, where we construct the market-based measures from...
Persistent link: https://www.econbiz.de/10013027289
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011433529