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Productivity growth and inflation : a multi-country study
Date Issued
2006-11
Date Available
2008-07-11T11:53:21Z
Abstract
Ball and Moffitt (2001) present a theory implying that the gap between productivity and wage aspirations can shift the traditional Phillips Curve. We examine their theory within the OECD. The results show that there is no clear cross country evidence for the theory. Although Ball and Moffitt’s model works well in the U.S., it cannot, in general, be applied to other OECD countries. The time- varying NAIRU can better explain the economic performance for the OECD overall, and the UK in particular, during the late 1990s. In Germany, traditional Phillips Curve still kept its explanatory power during this period.
Type of Material
Working Paper
Publisher
University College Dublin, School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP06/16
Copyright (Published Version)
UCD School of Economics
Subject – LCSH
Phillips curve
OECD countries--Economic policy
Natural rate of unemployment
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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