Example: stock market
Search results with tag "Of the phillips curve"
BIS Working Papers
www.bis.orgdecline 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 ...
The Slope of the Phillips Curve: Evidence from U.S. States
eml.berkeley.eduthe sharp drop in core inflation in the early 1980s was mostly due to shifting expectations about long-run monetary policy as opposed to a steep Phillips curve, and the greater stability of in- ... Volcker’s monetary policy constituted a sharp regime shift that was ... the estimated slope will be biased towards zero and may even have the ...