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Understanding Inflation and the Implications for Monetary Policy : A Phillips Curve Retrospective

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Title: Understanding Inflation and the Implications for Monetary Policy : A Phillips Curve Retrospective
Description: Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment.In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. ContributorsLawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
Authors: Jeff Fuhrer, Yolanda K. Kodrzycki, Jane Sneddon Little, Giovanni P. Olivei
Resource Type: eBook.
Subjects: Monetary policy--Congresses, Unemployment--Effect of inflation on--Mathematical models--Congresses, Inflation (Finance)--Congresses, Phillips curve--Congresses
Categories: BUSINESS & ECONOMICS / Economics / Theory, BUSINESS & ECONOMICS / Money & Monetary Policy
Database: eBook Collection (EBSCOhost)
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PubType: eBook
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  Data: Understanding Inflation and the Implications for Monetary Policy : A Phillips Curve Retrospective
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  Data: Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment.In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. ContributorsLawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
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  Data: <searchLink fieldCode="DE" term="%22Monetary+policy--Congresses%22">Monetary policy--Congresses</searchLink><br /><searchLink fieldCode="DE" term="%22Unemployment--Effect+of+inflation+on--Mathematical+models--Congresses%22">Unemployment--Effect of inflation on--Mathematical models--Congresses</searchLink><br /><searchLink fieldCode="DE" term="%22Inflation+%28Finance%29--Congresses%22">Inflation (Finance)--Congresses</searchLink><br /><searchLink fieldCode="DE" term="%22Phillips+curve--Congresses%22">Phillips curve--Congresses</searchLink>
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RecordInfo BibRecord:
  BibEntity:
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      – Code: 332.41
        Scheme: ddc
        Type: prePub
    Languages:
      – Code: eng
        Text: English
    Subjects:
      – SubjectFull: Monetary policy--Congresses
        Type: general
      – SubjectFull: Unemployment--Effect of inflation on--Mathematical models--Congresses
        Type: general
      – SubjectFull: Inflation (Finance)--Congresses
        Type: general
      – SubjectFull: Phillips curve--Congresses
        Type: general
    Titles:
      – TitleFull: Understanding Inflation and the Implications for Monetary Policy : A Phillips Curve Retrospective
        Type: main
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            NameFull: Yolanda K. Kodrzycki
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            NameFull: Jane Sneddon Little
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            NameFull: Giovanni P. Olivei
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2009
            – D: 04
              M: 02
              Type: profile
              Y: 2014
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            – Type: isbn-print
              Value: 9780262013635
            – Type: isbn-electronic
              Value: 9780262258784
          Titles:
            – TitleFull: Understanding Inflation and the Implications for Monetary Policy : A Phillips Curve Retrospective
              Type: main
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