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Monetary Policy Credibility and the Unemployment-Inflation Tradeoff : Some Evidence From 17 Industrial Countries / Papa N'Diaye, Douglas Laxton.
- Format:
- Book
- Government document
- Author/Creator:
- N'Diaye, Papa.
- Series:
- IMF Working Papers; Working Paper ; No. 2002/220
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (39 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2002.
- Language Note:
- English
- Summary:
- Using data on long-term interest rates for 17 industrial countries, this paper develops some simple measures of monetary policy credibility and then tests if such measures improve the out-of-sample forecasts of conventional models of the inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613825261
- 9781462391028
- 1462391028
- 9781452779294
- 1452779295
- 9781283512817
- 1283512815
- 9781451919813
- 1451919816
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