The behaviour of inflation and unemployment in the United States

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Title: The behaviour of inflation and unemployment in the United States
Authors: Hogan, Vincent (Vincent Peter)
Permanent link: http://hdl.handle.net/10197/329
Date: Jun-2000
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
Keywords: Inflation;Philips Curve
Subject LCSH: Natural rate of unemployment--United States
Inflation (Finance)--United States
Phillips curve
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Research Collection
Economics Working Papers & Policy Papers

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