| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13480 |
| DP13480 The Phillips Multiplier | |
| Régis Barnichon; Geert Mesters | |
| 发表日期 | 2019-01-23 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We propose a model-free approach for determining the inflation-unemployment trade-off faced by a central bank, i.e., the ability of a central bank to transform unemployment into inflation (and vice versa) via its interest rate policy. We introduce the Phillips multiplier as a statistic to non-parametrically characterize the trade-off and its dynamic nature. We compute the Phillips multiplier for the US, UK and Canada and document that the trade-off went from being very large in the pre-1990 sample period to being small (but significant) post-1990 with the onset of inflation targeting and the anchoring of inflation expectations. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Marginal rate of transformation Inflation-unemployment trade-off Dynamic multiplier Instrumental variables Phillips curve |
| URL | https://cepr.org/publications/dp13480 |
| 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/542294 |
| 推荐引用方式 GB/T 7714 | Régis Barnichon,Geert Mesters. DP13480 The Phillips Multiplier. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Régis Barnichon]的文章 |
| [Geert Mesters]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Régis Barnichon]的文章 |
| [Geert Mesters]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Régis Barnichon]的文章 |
| [Geert Mesters]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
