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The inflation/output variability trade-off: further evidence

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  • David Cobham
  • Peter Macmillan
  • David Mcmillan

Abstract

The trade-off between the variability of inflation and that of output is estimated for the UK, using several different approaches to obtain the output gap, and then for a range of other countries; in all cases the trade-off retains the 'sharp turning point' found for the UK and US by other authors.

Suggested Citation

  • David Cobham & Peter Macmillan & David Mcmillan, 2004. "The inflation/output variability trade-off: further evidence," Applied Economics Letters, Taylor & Francis Journals, vol. 11(6), pages 347-350.
    • Handle: RePEc:taf:apeclt:v:11:y:2004:i:6:p:347-350
    DOI: 10.1080/1350485042000228178
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    References listed on IDEAS

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    1. John B. Taylor, 1994. "The inflation/output variability trade-off revisited," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 21-24.
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    1. Zhou, Wei-Xing & Sornette, Didier, 2007. "Lead-lag cross-sectional structure and detection of correlated–anticorrelated regime shifts: Application to the volatilities of inflation and economic growth rates," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 380(C), pages 287-296.

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