Best Seller Inflation Dynamics and the Great Recession

Inflation Dynamics and the Great Recession High quality books

Inflation Dynamics and the Great Recession
By:Mr. Sandeep Mazumder,Laurence M. Ball
Published on 2011-06-01 by International Monetary Fund

This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation over 2008-2010: inflation should have fallen by more than it did. We resolve this puzzle with two modifications of the Phillips curve, both suggested by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the slope of the Phillips curve to change with the level and vairance of inflation. We then examine the hypothesis of anchored inflation expectations. We find that expectations have been fully |shock-anchored| since the 1980s, while |level anchoring| has been gradual and partial, but significant. It is not clear whether expectations are sufficiently anchored to prevent deflation over the next few years. Finally, we show that the Great Recession provides fresh evidence against the New Keynesian Phillips curve with rational expectations.

This Book was ranked at 3 by Google Books for keyword Monetary economics.

Book ID of Inflation Dynamics and the Great Recession's Books is U5ZtVStfj98C, Book which was written byMr. Sandeep Mazumder,Laurence M. Ballhave ETAG "BMDHEyg0z7k"

Book which was published by International Monetary Fund since 2011-06-01 have ISBNs, ISBN 13 Code is 9781462324361 and ISBN 10 Code is 1462324363

Reading Mode in Text Status is true and Reading Mode in Image Status is true

Book which have "56 Pages" is Printed at BOOK under CategoryBusiness and Economics

This Book was rated by Raters and have average rate at ""

This eBook Maturity (Adult Book) status is NOT_MATURE

Book was written in en

eBook Version Availability Status at PDF is true and in ePub is true

Book Preview