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Explaining the Recent Behavior of Inflation and Unemployment in the United States / Vincent Hogan.
- Format:
- Book
- Government document
- Author/Creator:
- Hogan, Vincent.
- Series:
- IMF Working Papers; Working Paper ; No. 1998/145
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (17 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1998.
- Language Note:
- English
- Summary:
- Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon could be the result of a series of transitory shocks or of a permanent change in the structure of the economy leading to a lower NAIRU. The paper suggests that, while the NAIRU may have fallen slightly, it has not fallen by an amount sufficient to explain the recent behavior of inflation. A leading explanation for recent inflation performance appears to be favorable price shocks; in particular, the cost of imports has fallen sharply as the dollar has appreciated.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613801548
- 9781462303472
- 1462303471
- 9781452776446
- 145277644X
- 9781282108196
- 1282108190
- 9781451901641
- 145190164X
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