The paper intends to contribute to the theoretical and empirical analysis of the long-run relationship between inflation, unemployment and economic policy. In the first part, the existing literature on the Phillips Curve will be briefly considered and alternative approaches will be presented. In the second part, an empirical investigation of the inflation-unemployment co-evolution in selected developed countries (United States, Italy, France, U.K., Germany and Canada) during the last fifty years will be performed. Reliable comparisons over time and across countries will be accomplished by using business cycles reference dates provided by the Economic Cycle Research Institute (ECRI).
Inflation, Unemployment and Economic Policy: What Trade-Offs in a Long-run Perspective?
DAMIANI, Mirella;SIGNORELLI, Marcello;
2004
Abstract
The paper intends to contribute to the theoretical and empirical analysis of the long-run relationship between inflation, unemployment and economic policy. In the first part, the existing literature on the Phillips Curve will be briefly considered and alternative approaches will be presented. In the second part, an empirical investigation of the inflation-unemployment co-evolution in selected developed countries (United States, Italy, France, U.K., Germany and Canada) during the last fifty years will be performed. Reliable comparisons over time and across countries will be accomplished by using business cycles reference dates provided by the Economic Cycle Research Institute (ECRI).I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
