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Hysteresis in unemployment - comments

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  • V. V. Chari

Abstract

Larry Ball's paper contains two basic ideas. The first is a second generation Phillips Curve which relates changes in inflation to the level of the unemployment rate and the second is the idea that monetary policy has extremely persistent effects on the unemployment rate, well beyond effects over the business cycle.

Suggested Citation

  • V. V. Chari, 2008. "Hysteresis in unemployment - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    • Handle: RePEc:fip:fedbcp:y:2008:n:53:x:11
    Note: Complete conference proceedings can be ordered from MIT Press.
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    File URL: https://www.bostonfed.org/news-and-events/events/economic-research-conference-series/understanding-inflation-and-the-implications-for-monetary-policy-a-phillips-curve-retrospective.aspx
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