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The Behaviour of Inflation and Unemployment the United States

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Listed:
  • Hogan, V.

Abstract

Low rates of inflation have been recorded in the United States in recent years despite a decline in the unemployment rate. This phenomenon could be the results of a series of transitory shocks or of a permanent charge in the structure of the economy leading to a lower NAIRU. The paper suggests that while the NAIRU may have fallen slighlty, it has not fallen by an amoun sufficient to explain the recent behaviour of inflation.

Suggested Citation

  • Hogan, V., 2000. "The Behaviour of Inflation and Unemployment the United States," Papers 00/16, College Dublin, Department of Political Economy-.
  • Handle: RePEc:fth:dublec:00/16
    as

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    References listed on IDEAS

    as
    1. Robert J. Gordon, 1997. "The Time-Varying NAIRU and Its Implications for Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 11-32, Winter.
    2. Cara S. Lown & Robert W. Rich, 1997. "Is there an inflation puzzle?," Economic Policy Review, Federal Reserve Bank of New York, vol. 3(Dec), pages 51-77.
    3. Charles Adams & David T. Coe, 1990. "A Systems Approach to Estimating the Natural Rate of Unemployment and Potential Output for the United States," IMF Staff Papers, Palgrave Macmillan, vol. 37(2), pages 232-293, June.
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    More about this item

    Keywords

    PRICES ; INFLATION ; ECONOMIC THEORY;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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