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The behaviour of inflation and unemployment in the United States
Author(s)
Date Issued
2000-06
Date Available
2008-07-11T10:50:34Z
Abstract
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 the structure of the economy leading to a lower NAIRU. The paper suggests that while the NAIRU may have fallen slightly, it has not fallen by an amount sufficient to explain the recent behaviour of inflation. The main explanation for recent inflation performance appears to be that there have been favorable price shocks; in particular, the cost of imports has fallen sharply as the dollar has appreciated.
Type of Material
Working Paper
Publisher
University College Dublin, School of Economics
Series
UCD Centre For Economic Research Working Paper Series
WP00/16
Keywords
Subject – LCSH
Natural rate of unemployment--United States
Inflation (Finance)--United States
Phillips curve
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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