This paper provides a comprehensive analysis of the functional form of the euro-area Phillips curve over the past three decades. In particular, compared with previous literature, we analyze the stability of the relationship in detail, especially as regards the possibility of a time-varying mean of inflation. Moreover, we conduct a sensitivity analysis across different measures of economic slack. Our main findings are two. First, there is strong evidence of time variation in the mean and slope of the Phillips curve occurring in the early to mid-1980s, but not in inflation persistence once the mean shift is allowed for. As a result of the structural change, the Phillips curve became flatter around a lower mean of inflation. Second, we find no significant evidence of nonlinearity - in particular, in relation to the output gap.

"About this title" may belong to another edition of this title.

Store Description

We carry a wide selection of books from South Asia, United States, UK.

Visit Seller's Storefront

Seller's business information

Readingos GmbH
Kaiserstra�e 47, Frankfurt am Main, 60329, Germany

Sale & Shipping Terms

Terms of Sale

Shipping Terms

To ensure faster delivery, books may be shipped from any of the following locations Germany, the United Kingdom (UK), the United States (US), based on the buyer's address and product availability.

Shipping rates from Germany to U.S.A.

Shipping rates from Germany to U.S.A.
Order quantity	25 to 45 business days	8 to 14 business days
First item	US$ 11.48	US$ 21.57

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.