Defensive expectations reinventing the Phillips curve as a policy mix /
This book takes us through the journey of the Phillips Curve to the present debate, dominated by the post-great recession puzzles and the challenges to the fundamental stable relationship between inflation and economic slack. Liviu makes an insightful contribution to the discussion and to our unders...
| Main Author: | Voinea, Liviu, |
|---|---|
| Other Authors: | SpringerLink (Online service) |
| Format: | eBook |
| Language: | English |
| Published: |
Cham :
Palgrave Macmillan,
[2021]
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| Physical Description: |
1 online resource. |
| Subjects: |
| Summary: |
This book takes us through the journey of the Phillips Curve to the present debate, dominated by the post-great recession puzzles and the challenges to the fundamental stable relationship between inflation and economic slack. Liviu makes an insightful contribution to the discussion and to our understanding of inflation dynamics by introducing the concept of cumulative wage gap as a measure of slack. Luis de Guindos, Vice President European Central Bank. |
|---|---|
| Item Description: |
Includes bibliographical references and index. This book takes us through the journey of the Phillips Curve to the present debate, dominated by the post-great recession puzzles and the challenges to the fundamental stable relationship between inflation and economic slack. Liviu makes an insightful contribution to the discussion and to our understanding of inflation dynamics by introducing the concept of cumulative wage gap as a measure of slack. Luis de Guindos, Vice President European Central Bank. 1. The Phillips Curve: what went wrong -- 2. An alternative theory of consumption -- 3. The post-crisis Phillips Curve: cumulative wage gap vs. inflation gap -- 4. Empirical evidence -- 5. Policy implications. |
| Physical Description: |
1 online resource. |
| Bibliography: |
Includes bibliographical references and index. |
| ISBN: |
9783030550455 3030550451 |