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Monetary Policy Credibility and the Unemployment-Inflation Tradeoff :, Some Evidence From 17 Industrial Countries, Papa N'Diaye, Douglas Laxton

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Abstract
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
Language
eng
Literary Form
non fiction
Note
Bibliographic Level Mode of Issuance: Monograph
Physical Description
1 online resource (39 pages)
Form Of Item
online
Isbn
9781462391028

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