G2TT
来源类型Discussion paper
规范类型论文
来源IDDP14583
DP14583 What's up with the Phillips Curve?
Marco Del Negro; Michele Lenza; Giorgio Primiceri; Andrea Tambalotti
发表日期2020-04-08
出版年2020
语种英语
摘要The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. Inflation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect is due primarily to the muted reaction of inflation to cost pressures, regardless of how they are measured—a flat aggregate supply curve. A shift in policy towards more forceful inflation stabilization also appears to have played some role by reducing the impact of demand shocks on the real economy. The evidence rules out stories centered around changes in the structure of the labor market or in how we should measure its tightness.
主题Monetary Economics and Fluctuations
URLhttps://cepr.org/publications/dp14583
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/543491
推荐引用方式
GB/T 7714
Marco Del Negro,Michele Lenza,Giorgio Primiceri,et al. DP14583 What's up with the Phillips Curve?. 2020.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Marco Del Negro]的文章
[Michele Lenza]的文章
[Giorgio Primiceri]的文章
百度学术
百度学术中相似的文章
[Marco Del Negro]的文章
[Michele Lenza]的文章
[Giorgio Primiceri]的文章
必应学术
必应学术中相似的文章
[Marco Del Negro]的文章
[Michele Lenza]的文章
[Giorgio Primiceri]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。