United States Selected Issues
This Selected Issues paper on the United States explains the behavior of inflation and unemployment during 1997-98. The paper highlights that a simple Philips curve equation relating inflation to the unemployment gap has overpredicted inflation since 1993. The mean forecast error for 1994-97 is grea...
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| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
1998
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| Series: | IMF Staff Country Reports
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| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This Selected Issues paper on the United States explains the behavior of inflation and unemployment during 1997-98. The paper highlights that a simple Philips curve equation relating inflation to the unemployment gap has overpredicted inflation since 1993. The mean forecast error for 1994-97 is greater than zero by an amount equivalent to two-thirds of the standard deviation of the forecast error. The paper also examines the developments in the U.S. stock prices. Alternative approaches to social security reform are also discussed |
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| Physical Description: | 68 pages |
| ISBN: | 9781451839500 |