Of The Phillips Curve Evidence From

BIS Working Papers

decline in equilibrium interest rates. We also find evidence that the effectiveness of monetary policy wanes the longer interest ra tes stay low. These findings suggest that the observed flattening of the Phillips curve has gone hand in hand with a corresponding steepening of the IS curve. Monetary policy trade-offs may have become more ...

  Evidence, Curves, Phillips, Of the phillips curve

The Impact of Government Spending on Economic Growth

international evidence, highlights the latest academic research, cites examples of countries that have significantly reduced government ... (the Phillips Curve) and that government officials should increase or decrease government spending to steer the economy between too much of one or too much of the .

  Evidence, Curves, Phillips, Phillips curve

Generalized Additive Models (GAMs)

Generalized Additive Models (GAMs) •GAMs (Hastie & Tibshirani 1986, 1990) are semi-parametric extensions of GLMs, only making assumption that the functions are additive and the components are smooth •GAMs have the ability to deal with highly non-linear and non-monotonic