Inflation and Activity Two Explorations and their Monetary Policy Implications is popular PDF and ePub book, written by Mr.Olivier J. Blanchard in 2015-11-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Inflation and Activity Two Explorations and their Monetary Policy Implications can be Read Online from any device for your convenience.
Inflation and Activity Two Explorations and their Monetary Policy Implications Book PDF Summary
We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
Detail Book of Inflation and Activity Two Explorations and their Monetary Policy Implications PDF
- Author : Mr.Olivier J. Blanchard
- Release : 06 November 2015
- Publisher : International Monetary Fund
- ISBN : 9781513536613
- Genre : Business & Economics
- Total Page : 29 pages
- Language : English
- PDF File Size : 12,9 Mb
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