This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Monetary Policy and Inflation Dynamics Author info | Abstract | Publisher info | Download info | Related research | Statistics John M. Roberts
Additional information is available for the following
registered author(s):
Since the early 1980s, the U.S. economy has changed in some important ways: inflation now rises considerably less when unemployment is low, and the volatility of output and inflation have fallen sharply. This paper examines whether changes in monetary policy can account for these changes in the economy. The results suggest that changes in monetary policy can account for most or all of the change in the inflationunemployment relationship. In addition, changes in policy can explain a large proportion of the reduction in the volatility of the output gap.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Article provided by International Journal of Central Banking in its journal International Journal of Central Banking .
Volume (Year): 2 (2006)
Issue (Month): 3 (September)
Pages:
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:ijc:ijcjou:y:2006:q:3:a:6Contact details of provider: Postal: Centralbahnplatz 2, CH - 4002 Basel Phone: (41) 61 - 280 80 80 Fax: (41) 61 - 280 91 00 Email: Web page: http://www.ijcb.org/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Timo Laurmaa).
Keywords: Other versions of this item:
Find related papers by JEL classification: E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
N. Gregory Mankiw & Ricardo Reis, 2002.
"Sticky Information Versus Sticky Prices: A Proposal To Replace The New Keynesian Phillips Curve ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 117(4), pages 1295-1328, November.
[Downloadable!] (restricted)
Other versions:
N. Gregory Mankiw & Ricardo Reis, 2001.
"Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve ,"
Harvard Institute of Economic Research Working Papers
1922, Harvard - Institute of Economic Research.
[Downloadable!] N. Gregory Mankiw & Ricardo Reis, 2001.
"Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve ,"
NBER Working Papers
8290, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) N. Gregory Mankiw & Ricardo Reis, 2001.
"Sticky information versus sticky prices: a proposal to replace the New-Keynesian Phillips Curve ,"
Proceedings ,
Federal Reserve Bank of San Francisco, issue Jun.
[Downloadable!] Rudebusch, Glenn D, 2005.
"Assessing the Lucas Critique in Monetary Policy Models ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 37(2), pages 245-72, April.
Other versions: James H. Stock & Mark W. Watson, 2002.
"Has the Business Cycle Changed and Why? ,"
NBER Working Papers
9127, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Gordon, Robert J, 1980.
"A Consistent Characterization of a Near-Century of Price Behavior ,"
American Economic Review ,
American Economic Association, vol. 70(2), pages 243-49, May.
[Downloadable!] (restricted)
Other versions: Andrew Levin & Volker Wieland & John C. Williams, 1998.
"Robustness of simple monetary policy rules under model uncertainty ,"
Finance and Economics Discussion Series
1998-45, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
Other versions: David Reifschneider & Robert Tetlow & John Williams, 1999.
"Aggregate disturbances, monetary policy, and the macroeconomy: the FRB/US perspective ,"
Federal Reserve Bulletin ,
Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-19.
[Downloadable!]
Laurence Ball, 2000.
"Near-Rationality and Inflation in Two Monetary Regimes ,"
NBER Working Papers
7988, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Roberts, John M, 1995.
"New Keynesian Economics and the Phillips Curve ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 27(4), pages 975-84, November.
[Downloadable!] (restricted)
Orphanides, Athanasios & Porter, Richard D. & Reifschneider, David & Tetlow, Robert & Finan, Frederico, 2000.
"Errors in the measurement of the output gap and the design of monetary policy ,"
Journal of Economics and Business ,
Elsevier, vol. 52(1-2), pages 117-141.
[Downloadable!] (restricted)
Other versions: Richard Clarida & Jordi Galí & Mark Gertler, 2000.
"Monetary Policy Rules And Macroeconomic Stability: Evidence And Some Theory ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 115(1), pages 147-180, February.
[Downloadable!] (restricted)
Other versions:
Clarida, Richard & Galí, Jordi & Gertler, Mark, 1998.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory ,"
CEPR Discussion Papers
1908, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Richard Clarida & Jordi Gali & Mark Gertler, 1998.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory ,"
NBER Working Papers
6442, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Richard Clarida & Jordi Galí & Mark Gertler, 1997.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory ,"
Economics Working Papers
350, Department of Economics and Business, Universitat Pompeu Fabra, revised May 1999.
[Downloadable!] Clarida, R. & Gali, J. & Gertler, M., 1998.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and some Theory ,"
Working Papers
98-01, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!] Jean Boivin & Marc P. Giannoni, 2003.
"Has Monetary Policy Become More Effective? ,"
NBER Working Papers
9459, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Boivin, Jean & Giannoni, Marc, 2006.
"Has Monetary Policy Become More Effective? ,"
CEPR Discussion Papers
5463, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Jean Boivin & Marc P Giannoni, 2006.
"Has Monetary Policy Become More Effective? ,"
The Review of Economics and Statistics ,
MIT Press, vol. 88(3), pages 445-462, October.
[Downloadable!] (restricted) Fuhrer, Jeff & Moore, George, 1995.
"Inflation Persistence ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 110(1), pages 127-59, February.
[Downloadable!] (restricted)
Other versions:
Jeff Fuhrer & George Moore, 1993.
"Inflation persistence ,"
Finance and Economics Discussion Series
93-17, Board of Governors of the Federal Reserve System (U.S.).
Jeff Fuhrer & George Moore, 1993.
"Inflation persistence ,"
Proceedings ,
Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!] Jeff Fuhrer & George Moore, 1993.
"Inflation persistence ,"
Proceedings ,
Federal Reserve Bank of San Francisco, issue Mar.
Andrew Atkeson & Lee E. Ohanian., 2001.
"Are Phillips curves useful for forecasting inflation? ,"
Quarterly Review ,
Federal Reserve Bank of Minneapolis, issue Win, pages 2-11.
[Downloadable!]
Olivier Blanchard & John Simon, 2001.
"The Long and Large Decline in U.S. Output Volatility ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 32(2001-1), pages 135-174.
[Downloadable!]
repec:bep:maccon:v:3:y:2003:i:1:p:1073-1073 is not listed on IDEAS
Amato, Jeffery D. & Laubach, Thomas, 2004.
"Implications of habit formation for optimal monetary policy ,"
Journal of Monetary Economics ,
Elsevier, vol. 51(2), pages 305-325, March.
[Downloadable!] (restricted)
Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 2005.
"Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy ,"
Journal of Political Economy ,
University of Chicago Press, vol. 113(1), pages 1-45, February.
Other versions:
Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001.
"Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy ,"
NBER Working Papers
8403, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 2001.
"Nominal rigidities and the dynamic effects of a shock to monetary policy ,"
Working Paper Series
WP-01-08, Federal Reserve Bank of Chicago.
[Downloadable!] Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001.
"Nominal rigidities and the dynamic effects of a shock to monetary policy ,"
Working Paper
0107, Federal Reserve Bank of Cleveland.
[Downloadable!] Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001.
"Nominal rigidities and the dynamic effects of a shock to monetary policy ,"
Proceedings ,
Federal Reserve Bank of San Francisco, issue Jun.
[Downloadable!] Flint Brayton & Eileen Mauskopf & David Reifschneider & Peter Tinsley & John Williams, 1997.
"The role of expectations in the FRB/US macroeconomic model ,"
Federal Reserve Bulletin ,
Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 227-245.
[Downloadable!]
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.) This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page .
Access and
download statistics Did you know? Use the JEL tree to browse through the database by subfields.
This page was last updated on 2009-11-17.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .