| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5902 |
| DP5902 Does Services Liberalization Benefit Manufacturing Firms? | |
| Aaditya Mattoo; Beata Javorcik; Jens Arnold | |
| 发表日期 | 2006-10-15 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Many central banks have abandoned monetary targeting because the link between money growth and inflation seemed to disappear in the 1980s. Using spectral regression techniques, we show that for the euro area, Japan, the UK and the US there is a unit relationship between money growth and inflation at low frequencies when the impact of interest rate changes on money demand is accounted for. We estimate Phillips-curve equations in which the low-frequency information from money growth is combined with high-frequency information from the output gap to explain movements in inflation. |
| 主题 | International Macroeconomics |
| 关键词 | Quantity theory Phillips curve Spectral regression Frequency domain |
| URL | https://cepr.org/publications/dp5902 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534731 |
| 推荐引用方式 GB/T 7714 | Aaditya Mattoo,Beata Javorcik,Jens Arnold. DP5902 Does Services Liberalization Benefit Manufacturing Firms?. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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