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Phillips’ Curve, Independence of Central Banks and Inflation Targeting

In: Macroeconomics, Finance and Money

Author

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  • Malcolm Sawyer

Abstract

Philip Arestis has contributed to many areas of macroeconomics and monetary economics. Those contributions have included theoretical and empirical investigations of inflation, and the development of critiques of inflation targeting, again both in the theoretical dimension and the empirical.1 The purpose of this chapter is to focus on particular aspects of inflation and inflation targeting, namely the Phillips’ curve and its role in the arguments for independence of the Central Bank and the adoption of inflation targeting. In doing so, I draw heavily on discussions and joint work with Philip over many years.

Suggested Citation

  • Malcolm Sawyer, 2010. "Phillips’ Curve, Independence of Central Banks and Inflation Targeting," Palgrave Macmillan Books, in: Giuseppe Fontana & John McCombie & Malcolm Sawyer (ed.), Macroeconomics, Finance and Money, chapter 8, pages 126-138, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28558-3_8
    DOI: 10.1057/9780230285583_8
    as

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