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Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments

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Abstract

Historical experience suggests an important role for some deviation from the most restricted form of rational expectations in inflation dynamics, but also shows that other aspects of sluggish price adjustment, such as nominal rigidities, are important; and the available indicators of inflation expectations show that imperfect information regarding central bank intentions has been one source of inertia in inflation expectations.

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  • Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    • Handle: RePEc:fip:fedbcp:y:2008:n:53:x:8
    Note: Complete conference proceedings can be ordered from MIT Press.
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    Cited by:

    1. Michael T. Kiley, 2022. "Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?," Finance and Economics Discussion Series 2022-016, Board of Governors of the Federal Reserve System (U.S.).

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