Productivity growth and inflation : a multi-country study

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Title: Productivity growth and inflation : a multi-country study
Authors: Zhao, Hongmei
Hogan, Vincent (Vincent Peter)
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Date: Nov-2006
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/Report no.: 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
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Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Research Collection
Economics Working Papers & Policy Papers

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