Low rates of inflation have been recorded in the United States 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 ...
Rudd, Jeremy; Whelan, Karl(Blackwell - published on behalf of The Ohio State University, 2005-04)
A number of researchers have recently argued that the new-Keynesian Phillips curve matches the empirical behavior of inflation well when the labor income share is used as a driving variable, but fits poorly when deterministically ...
Woodford (2001) has presented evidence that the new-Keynesian Phillips curve fits the empirical behavior of inflation well when the labor income share is used as a driving variable, but fits poorly when deterministically ...
Low rates of inflation have been recorded in the United States 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 ...
This paper proposes the use of wavelet methods to estimate U.S. core inflation. It explains wavelet methods and suggests they are ideally suited to this task. Comparisons are made with traditional CPI-based and regression-based ...