Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective |  | Creators: Jeff Fuhrer, Jane Sneddon Little, Yolanda K. Kodrzycki, Giovanni P. Olivei, Paul A. Samuelson Publisher: The MIT Press Category: Book
List Price: $45.00 Buy New: $18.58 as of 9/6/2010 08:49 CDT details You Save: $26.42 (59%)
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Seller: spectrumbooks Sales Rank: 772,246
Media: Hardcover Pages: 450 Number Of Items: 1 Shipping Weight (lbs): 1.9 Dimensions (in): 9 x 6.1 x 1.4
ISBN: 0262013630 Dewey Decimal Number: 332.41 EAN: 9780262013635 ASIN: 0262013630
Publication Date: October 30, 2009 Availability: Usually ships in 1-2 business days
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Product Description In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the Phillips curve became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of today's top economists reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. Contributors: Lawrence Ball, Ben S. Bernanke, Olivier Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Galí, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartosz Maćkowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian Rodney Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
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