| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27003 |
| 来源ID | Working Paper 27003 |
| What\u2019s up with the Phillips Curve? | |
| Marco Del Negro; Michele Lenza; Giorgio E. Primiceri; Andrea Tambalotti | |
| 发表日期 | 2020-04-20 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. Inflation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect is due primarily to the muted reaction of inflation to cost pressures, regardless of how they are measured—a flat aggregate supply curve. A shift in policy towards more forceful inflation stabilization also appears to have played some role by reducing the impact of demand shocks on the real economy. The evidence rules out stories centered around changes in the structure of the labor market or in how we should measure its tightness. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w27003 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584675 |
| 推荐引用方式 GB/T 7714 | Marco Del Negro,Michele Lenza,Giorgio E. Primiceri,et al. What\u2019s up with the Phillips Curve?. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27003.pdf（1852KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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