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|c 5.00 USD
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|z 9781498348645
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Laseen, Stefan.
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|a Did the Global Financial Crisis Break the U.S. Phillips Curve? /
|c Stefan Laseen, Marzie Taheri Sanjani.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2016.
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| 300 |
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|a 1 online resource (42 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Inflation dynamics, as well as its interaction with unemployment, have been puzzling since the Global Financial Crisis (GFC). In this empirical paper, we use multivariate, possibly time-varying, time-series models and show that changes in shocks are a more salient feature of the data than changes in coefficients. Hence, the GFC did not break the Phillips curve. By estimating variations of a regime-switching model, we show that allowing for regime switching solely in coefficients of the policy rule would maximize the fit. Additionally, using a data-rich reduced-form model we compute conditional forecast scenarios. We show that financial and external variables have the highest forecasting power for inflation and unemployment, post-GFC.
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|a Mode of access: Internet
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|a Taheri Sanjani, Marzie.
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|a IMF Working Papers; Working Paper ;
|v No. 2016/126
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2016/126/001.2016.issue-126-en.xml
|z IMF e-Library
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