Testing the Nonlinearity of the Phillips Curve. Implications for Monetary Policy

Testing the Nonlinearity of the Phillips Curve. Implications for Monetary Policy

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This paper studies the nonlinearity of the Phillips Curve and its implications for monetary policy. To investigate the trade-off between output gap and inflation volatility we used a backward-looking model type. The data for our empirical analysis is obtained from the Area Wide Model (AWM) Database...

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Bibliographic Details
Main Authors: Georgiana BALABAN, Denis VÎNTU
Format: Article
Language:English
Published: General Association of Economists from Romania 2010-04-01
Series:Theoretical and Applied Economics
Subjects:
monetary policy
Phillips curve
output gap
inflation
nonlinearity
Online Access: http://store.ectap.ro/articole/463.pdf

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