Search Results
Showing results 1 to 10 of approximately 147.
(refine search)
Discussion Paper
The global slack hypothesis
Wynne, Mark A.; Martinez-Garcia, Enrique
(2010-09)
We illustrate the analytical content of the global slack hypothesis in the context of a variant of the widely used New Open-Economy Macro model of Clarida, Gal, and Gertler (2002) under the assumptions of both producer currency pricing and local currency pricing. The model predicts that the Phillips curve for domestic CPI inflation will be flatter under most plausible parameterizations, the more important international trade is to the domestic economy. The model also predicts that foreign output gaps will matter for inflation dynamics, along with the domestic output gap. We also show that the ...
Staff Papers
, Issue Sep
Discussion Paper
High Unemployment and Disinflation in the Euro Area Periphery Countries
Klitgaard, Thomas; Peck, Richard
(2014-07-14)
Economists often model inflation as dependent on inflation expectations and the level of economic slack, with changes in expectations or slack leading to changes in the inflation rate. The global slowdown and the subsequent sovereign debt crisis caused the greatest divergence in unemployment rates among euro area member countries since the monetary union was founded in 1999. The pronounced differences in economic performances of euro area countries since 2008 should have led to significant differences in price behavior. That turned out to be the case, with a strong correlation evident between ...
Liberty Street Economics
, Paper 20140714a
Journal Article
Nobel views on inflation and unemployment
Walsh, Carl E.
(1997)
FRBSF Economic Letter
Conference Paper
On implications of micro price data for macro models - comments
Midrigan, Virgiliu
(2008)
The author discusses: the challenges the wealth of micro-data has posed to macroeconomists and some of the progress made to address these; the fact that an important number of price changes in the data are temporary discounts (sales); and the complicated mapping from the frequency of price adjustment to the degree of monetary non-neutrality in economies that explicitly model price stickiness as arising from menu costs.
Conference Series ; [Proceedings]
Journal Article
The early history of the Phillips curve
Humphrey, Thomas M.
(1985-09)
The Phillips Curve depicts a relationship between inflation and unemployment in graphical or equation form. In a previous article (see the March /April issue of this Review), Thomas Humphrey catalogued the various formulations of the relationship that have appeared since the publication in 1958 of A. W. Phillips famous article on the subject. In the present article, Humphrey turns to the history of monetary doctrines seeking precursors of the modern formulations in the writings of Phillips forerunners. Humphrey finds an early representation of a Phillips Curve relationship in the writings of ...
Economic Review
, Volume 71
, Issue Sep
, Pages 17-24
Conference Paper
Hysteresis in unemployment
Ball, Laurence
(2008)
Hysteresis is central to long-run unemployment movements in many countries. This essay addresses two broad issues. The first is whether there is clear evidence of hysteresis effects. To put it differently, can we reject the hypothesis that the NAIRU, and hence the long run behavior of unemployment, is independent of aggregate demand? The second broad issue is the nature of hysteresis. Through what mechanisms do short-run unemployment movements influence the NAIRU? What determines the strength of these effects in different countries and time periods? What are the implications for monetary ...
Conference Series ; [Proceedings]
Working Paper
The expectations trap hypothesis
Christiano, Lawrence J.; Gust, Christopher J.
(2000)
The authors examine the inflation take-off of the early 1970s in terms of the expectations trap hypothesis, according to which fear of violating the public?s inflation expectations pushed the Fed into producing high inflation. This interpretation is compared with the Phillips curve hypothesis, according to which the Fed produced high inflation as the unfortunate byproduct of a conscious decision to jump-start a weak economy. Which hypothesis is more plausible has important implications for what should be done to prevent future inflation flare-ups.
Working Papers (Old Series)
, Paper 0004
Conference Paper
Phillips curve inflation forecasts - comments
Pagan, Adrian R.
(2008)
Conference Series ; [Proceedings]
Journal Article
The 1990s inflation puzzle
Rosenblum, Harvey
(2000-05)
Southwest Economy
, Issue May
, Pages 9-14
Working Paper
Anchored Inflation Expectations and the Slope of the Phillips Curve
Jorgensen, Peter; Lansing, Kevin J.
(2019-11-06)
We estimate a New Keynesian Phillips curve that allows for changes in the degree of anchoring of agents' subjective inflation forecasts. The estimated slope coefficient in U.S. data is stable over the period 1960 to 2019. Out-of-sample forecasts with the model resolve both the "missing disinflation puzzle" during the Great Recession and the "missing inflation puzzle" during the subsequent recovery. Using a simple New Keynesian model, we show that if agents solve a signal extraction problem to disentangle transitory versus permanent shocks to inflation, then an increase in the policy rule ...
Working Paper Series
, Paper 2019-27
FILTER BY year
FILTER BY Bank
Board of Governors of the Federal Reserve System (U.S.) 26 items
Federal Reserve Bank of Boston 26 items
Federal Reserve Bank of San Francisco 18 items
Federal Reserve Bank of Chicago 15 items
Federal Reserve Bank of Richmond 13 items
Federal Reserve Bank of St. Louis 11 items
Federal Reserve Bank of Kansas City 9 items
Federal Reserve Bank of Cleveland 8 items
Federal Reserve Bank of Philadelphia 6 items
Federal Reserve Bank of Dallas 5 items
Federal Reserve Bank of New York 5 items
Federal Reserve Bank of Atlanta 3 items
Federal Reserve Bank of Minneapolis 2 items
show more (8)
show less
FILTER BY Series
Working Papers 21 items
Finance and Economics Discussion Series 17 items
Conference Series ; [Proceedings] 14 items
FRBSF Economic Letter 10 items
Working Paper Series 10 items
Economic Review 7 items
Economic Quarterly 6 items
International Finance Discussion Papers 6 items
Working Paper Series, Macroeconomic Issues 6 items
Proceedings 4 items
Research Working Paper 4 items
Economic Commentary 3 items
New England Economic Review 3 items
Proceedings - Economic Policy Symposium - Jackson Hole 3 items
Working Papers (Old Series) 3 items
Economic Insights 2 items
Economic Perspectives 2 items
Liberty Street Economics 2 items
Monograph 2 items
Policy Hub 2 items
Review 2 items
Speech 2 items
Staff Papers 2 items
Staff Reports 2 items
Annual Report 1 items
Business Review 1 items
Current Issues in Economics and Finance 1 items
Current Policy Perspectives 1 items
FRB Atlanta Working Paper 1 items
National Economic Trends 1 items
Quarterly Review 1 items
Southwest Economy 1 items
Staff Memoranda 1 items
The Region 1 items
Working Paper 1 items
Working Paper Series / Economic Activity Section 1 items
show more (31)
show less
FILTER BY Content Type
Working Paper 70 items
Journal Article 42 items
Conference Paper 21 items
Discussion Paper 5 items
Report 5 items
Monograph 2 items
Speech 2 items
show more (2)
show less
FILTER BY Author
Faccini, Renato 5 items
Humphrey, Thomas M. 5 items
Lansing, Kevin J. 5 items
Melosi, Leonardo 5 items
Watson, Mark W. 5 items
Fujita, Shigeru 4 items
Gust, Christopher J. 4 items
King, Robert G. 4 items
Olivei, Giovanni P. 4 items
Rudd, Jeremy B. 4 items
Whelan, Karl 4 items
Barnes, Michelle L. 3 items
Carlstrom, Charles T. 3 items
Christiano, Lawrence J. 3 items
Dittmar, Robert 3 items
Dotsey, Michael 3 items
Fuerst, Timothy S. 3 items
Gavin, William T. 3 items
Gumbau-Brisa, Fabia 3 items
Kiley, Michael T. 3 items
Lie, Denny 3 items
McElhattan, Rose 3 items
Roberts, John M. 3 items
Stark, Tom 3 items
Cogley, Timothy 2 items
Fuhrer, Jeffrey C. 2 items
Guerrieri, Luca 2 items
Higgins, Patrick C. 2 items
Hornstein, Andreas 2 items
Kohn, Donald L. 2 items
Lacker, Jeffrey M. 2 items
López-Salido, J. David 2 items
McCallum, Bennett T. 2 items
Nelson, Edward 2 items
Owyang, Michael T. 2 items
Peach, Richard 2 items
Rao, Nikhil 2 items
Rich, Robert W. 2 items
Rissman, Ellen R. 2 items
Sbordone, Argia M. 2 items
Sheremirov, Viacheslav 2 items
Smets, Frank 2 items
Stock, James H. 2 items
Thornton, Daniel L. 2 items
Weinberg, John A. 2 items
Wynne, Mark A. 2 items
Anderson, Katharine 1 items
Ashley, Richard 1 items
Atkeson, Andrew 1 items
Ball, Laurence 1 items
Barrow, Lisa 1 items
Benigno, Pierpaolo 1 items
Benjamin, Gary L. 1 items
Berge, Travis J. 1 items
Blanchard, Olivier Jean 1 items
Bracha, Anat 1 items
Brayton, Flint 1 items
Bullard, James B. 1 items
Butcher, Kristin F. 1 items
Chari, V. V. 1 items
Chiodo, Abbigail J. 1 items
Clark, Todd E. 1 items
Clement, Douglas 1 items
Collins, Susan M. 1 items
Cororaton, Anna 1 items
Cotton, Christopher D. 1 items
Daly, Mary C. 1 items
Davig, Troy A. 1 items
Dennis, Richard 1 items
Dickens, William T. 1 items
Doser, Alexander 1 items
Erceg, Christopher J. 1 items
Evans, Charles L. 1 items
Farmer, Roger E. A. 1 items
Filardo, Andrew J. 1 items
Fisher, Jonas D. M. 1 items
Fujiki, Hiroshi 1 items
Garga, Vaishali 1 items
Gertler, Mark 1 items
Gilchrist, Simon 1 items
Gonzalez-Astudillo, Manuel P. 1 items
Gruber, Joseph W. 1 items
Hajdini, Ina 1 items
Hobijn, Bart 1 items
Jorgensen, Peter 1 items
Judd, John P. 1 items
Jung, Yongseung 1 items
Jørgensen, Peter Lihn 1 items
Kersting, Erasmus K. 1 items
Klitgaard, Thomas 1 items
Kozicki, Sharon 1 items
Kumar, Anil 1 items
Kydland, Finn E. 1 items
Laidler, David 1 items
Leahy, John V. 1 items
Linder, M. Henry 1 items
Liu, Chin Te 1 items
Liu, Zheng 1 items
Luengo-Prado, Maria Jose 1 items
Mackowiak, Bartosz 1 items
Martinez-Garcia, Enrique 1 items
McCracken, Michael W. 1 items
Meade, Ellen E. 1 items
Midrigan, Virgiliu 1 items
Mishkin, Frederic S. 1 items
Morley, James 1 items
Motley, Brian 1 items
Nason, James M. 1 items
Nelson, Charles R. 1 items
Neumark, David 1 items
Nunes, Ricardo 1 items
Ohanian, Lee E. 1 items
Orphanides, Athanasios 1 items
Orrenius, Pia M. 1 items
Pagan, Adrian R. 1 items
Paustian, Matthias 1 items
Peck, Richard 1 items
Pfajfar, Damjan 1 items
Piger, Jeremy M. 1 items
Pissarides, Christopher A. 1 items
Ramey, Garey 1 items
Rasche, Robert H. 1 items
Reed, Robert R. 1 items
Rosenblum, Harvey 1 items
Rudebusch, Glenn D. 1 items
Samuelson, Paul A. 1 items
Schmitt-Grohe, Stephanie 1 items
Schorfheide, Frank 1 items
Schreft, Stacey L. 1 items
Shapiro, Adam Hale 1 items
Sill, Keith 1 items
Sims, Christopher A. 1 items
Smith, Gregor W. 1 items
Tallman, Ellis W. 1 items
Tang, Jenny 1 items
Tinsley, Peter A. 1 items
Tootell, Geoffrey M. B. 1 items
Trehan, Bharat 1 items
Uribe, Martin 1 items
Verbrugge, Randal 1 items
Waggoner, Daniel F. 1 items
Wall, Howard J. 1 items
Wallich, Henry C. 1 items
Walsh, Carl E. 1 items
Weiner, Stuart E. 1 items
Williams, John C. 1 items
Wright, Jonathan H. 1 items
Wu, Hongwei 1 items
Yun, Tack 1 items
Zakrajšek, Egon 1 items
Zaman, Saeed 1 items
Zha, Tao 1 items
Zhou, Ruilin 1 items
anonymous 1 items
van Norden, Simon 1 items
show more (150)
show less
FILTER BY Jel Classification
E31 19 items
E37 10 items
E32 8 items
C32 7 items
E52 6 items
C53 4 items
C22 3 items
E24 3 items
C23 2 items
D84 2 items
E58 2 items
C11 1 items
C13 1 items
C52 1 items
C63 1 items
C78 1 items
D83 1 items
E17 1 items
E2 1 items
E2;E5 1 items
E30 1 items
E43 1 items
E5 1 items
E51 1 items
E71 1 items
F00 1 items
show more (21)
show less
FILTER BY Keywords
Phillips curve 147 items
Inflation (Finance) 75 items
Unemployment 38 items
Monetary policy 14 items
Inflation 8 items
Wages 7 items
Business cycles 5 items
Econometric models 5 items
labor market slack 5 items
Keynesian economics 4 items
Missing inflation 4 items
employment-to-employment rate 4 items
micro data 4 items
Economic forecasting 3 items
Forecasting 3 items
Labor market 3 items
Monetary policy - United States 3 items
cyclical misallocation 3 items
heterogeneous agents 3 items
inflation expectations 3 items
on-the-job search 3 items
panel data 3 items
Deflation (Finance) 2 items
Economic history 2 items
Inflation forecasting 2 items
Inflation targeting 2 items
Macroeconomics 2 items
Prices 2 items
Trade 2 items
conditional predictive ability 2 items
labor markets 2 items
regional data 2 items
unemployment gap 2 items
Euro Area 2 items
Bayesian analysis 1 items
Boosting 1 items
Consumer price indexes 1 items
Core Inflation 1 items
Econometrics 1 items
Euro 1 items
Expectations 1 items
Federal Open Market Committee 1 items
Financial crises 1 items
Fisher effect 1 items
Friedman, Milton 1 items
Globalization 1 items
Goods Inflation 1 items
Great Inflation 1 items
Industrial capacity 1 items
Inflation (Finance) - Canada 1 items
Inflation (Finance) - Mathematical models 1 items
Inflation dynamics 1 items
Informational efficiency 1 items
Input-output analysis 1 items
International trade 1 items
International trade - Econometric models 1 items
Japan 1 items
Labor productivity 1 items
Labor supply 1 items
Labor unions 1 items
Liquidity effect 1 items
Lucas, Robert E. 1 items
Machine learning 1 items
Milton Friedman 1 items
Monetary policy doctrine 1 items
Monetary policy strategy 1 items
NAIRU 1 items
Natural rate hypothesis 1 items
Okun's law 1 items
Output gap 1 items
PCE inflation 1 items
Price levels 1 items
Price stickiness 1 items
Services Inflation 1 items
Short-term unemployment 1 items
Structural breaks 1 items
Supply and demand 1 items
Survey based inflation expectations 1 items
Survey inflation expectations 1 items
Trade share 1 items
Unemployment - Canada 1 items
Vector autoregression 1 items
Volcker disinflation 1 items
Wage determination 1 items
Wage-price spiral 1 items
Zero lower bound 1 items
consistent expectation equilibrium 1 items
cyclical 1 items
disaggregate price indices 1 items
disaggregated inflation forecasting models 1 items
disinflation 1 items
dynamic striation adjustments 1 items
economic conditions - United States 1 items
effective sample size 1 items
importance weights 1 items
inattention 1 items
independent striated draws 1 items
industrial composition 1 items
inflation persistence 1 items
inflation puzzles 1 items
irregular posterior distribution 1 items
job ladder 1 items
misallocation 1 items
multiple peaks 1 items
overheating 1 items
periphery 1 items
persistence dependence 1 items
price rigidity 1 items
recession gap 1 items
services 1 items
simultaneous equations 1 items
tempered posterior density 1 items
trend-cycle model 1 items
unobserved component model 1 items
unobserved components time series model 1 items
wage growth 1 items
winding ridges 1 items
show more (117)
show less