Testing for a Common OECD Phillips Curve
This paper reports estimates of a reduced form relationship explaining inflation in terms of the output gap and import price inflation for most OECD countries. Results are reported both for single equation estimation on a country-by-country basis and using a system estimation technique in order to i...
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| Format: | eBook |
| Language: | English |
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Paris
OECD Publishing
1999
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| Series: | OECD Economics Department Working Papers
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| Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
| Summary: | This paper reports estimates of a reduced form relationship explaining inflation in terms of the output gap and import price inflation for most OECD countries. Results are reported both for single equation estimation on a country-by-country basis and using a system estimation technique in order to impose common parameters across countries where such restrictions are consistent with the data. A striking feature of the results is that most of the countries accept a common sacrifice ratio .. |
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| Physical Description: | 23 p. 21 x 29.7cm |