Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy /
Upward sloping yield curves are hard to reconcile with the positive association between income and inflation (the Phillips curve) in consumption-based asset pricing models. Using US and UK data, this paper shows inflation is negatively correlated with long-run income growth but positively correlated...
| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2018.
|
| سلاسل: | IMF Working Papers; Working Paper ;
No. 2018/242 |
| الوصول للمادة أونلاين: | Full text available on IMF |