Asymmetry in the U.S. output-inflation Nexus

IMF Staff Papers

Volumn 43, Issue 1, 1996, Pages 216-251

  Clark, Peter ^a   Laxton, Douglas ^b   Rose, David ^c  

^a LONDON SCHOOL OF ECONOMICS   (United Kingdom)

^b INTERNATIONAL MONETARY FUND   (United States)

^c BANK OF CANADA   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 33750645104     PISSN: 10207635     EISSN: None     Source Type: Book Series    
DOI: 10.2307/3867358     Document Type: Article

References (39)

1. Andrews Donald W.K. and Werner Ploberger Optimal Tests When a Nuisance Parameter Is Present Only Under the Alternative Econometrica Vol. 62 (November 1994) pp. 138-4J14.
2. Armstrong John Richard Black Douglas Laxton and David Rose A Robust Method for Simulating Forward-Looking Models Bank of Canada Technical Report No. 73 (Ottawa: Bank of Canada February 1995).
3. Ball Laurence and N. Gregory Mankiw Asymmetric Price Adjustment and Economic Fluctuations Economic Journal Vol. 104 (March 1994) pp. 247-61.
4. Braun Steven N. Productivity and the NIIRLJ (And Other Phillips Curve Issues) Working Paper No. 34 (Washington: Economic Activity Section Division of Research and Statistics Board of Governors of the Federal Reserve System June 1984).
5. Estimation of Current-Quarter Gross National Product by Pooling Preliminary Labor-Market Data in Journal of Business and Economic Statistics Vol. 8 (July 1990) pp. 293-304.
6. Bryant Ralph C. Peter Hooper and Catherine L. Mann Evaluating Policy Regimes: New Research in Empirical Macroeconomics (Washington: Brookings Institution 1993).
7. Buiter Willem and Marcus Miller Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues in Inflation and Unemployment: Theory Experience and Policy-Making ed. by Victor Argy and John Neville (London: Alien and Unwin 1985) pp. 11-38.
8. Calvo Guillermo A. Staggered Prices in a Utility-Maximizing Framework Journal of Monetary Economics Vol. 12 (September 1983) pp. 383-98.
9. Clark Peter Douglas Laxton and David Rose (1995a) Capacity Constraints Inflation and the Transmission Mechanism: Forward-Looking Versus Myopic Policy Rules IMF Working Paper 95/75 (Washington: International Monetary Fund July 1995).
10. (1995b) Asymmetry in the U.S. Output-Inflation Nexus: Issues and Evidence IMF Working Paper 95/76 (Washington: International Monetary Fund July 1995).
11. Cogley Timothy and James M. Nason Effects of the Hodrick-Prescott Filter on Trend and Difference Stationary Time Series: Implications for Business Cycle Research Journal of Economic Dynamics and Control Vol. 19 (January/ February 1995) pp. 253-78.
12. Cozier Barry V. On the Aggregate Implications of Optimal Price Adjustment Bank of Canada Working Paper 89-4 (Ottawa: Bank of Canada November 1989).
13. Eichenbaum Martin Real Business Cycle Theory: Wisdom or Whimsy? Journal of Economic Dynamics and Control Vol. 15 (October 1991) pp. 607-26.
14. Eisner Robert A New View of the NAIRU Northwestern University Working Paper (Evanston Illinois: Northwestern University November 29 1994).
15. Evans Martin and Paul Wachtel Inflation Regimes and the Sources of Inflation Uncertainty Journal of Money Credit and Banking Vol. 25 (August 1993) pp. 475-511.
16. Fuhrer Jeffrey C. and George R. Moore Monetary Policy Trade-offs and the Correlation Between Nominal Interest Rates and Real Output American Economic Review Vol. 85 (March 1995) pp. 219-39.
17. Gordon Robert Inflation and Unemployment: Where Is the NAIRU? Paper presented to Board of Governors of the Federal Reserve System Meeting of Academic Consultants December 1 1994 (Washington: Federal Reserve System 1994).
18. Greenspan Allan Statement to the U.S. Senate Committee on Banking Housing and Urban Affairs February 22 1995 printed in Federal Reserve Bulletin Vol. 81 (April 1995) pp. 342-418.
19. Harvey Andrew C. and Albert Jaeger Detrending Stylized Facts and the Business Cycle Journal of Applied Econometrics Vol. 8 (July/September 1993) pp. 231-47.
20. Hodrick Robert J. and Edward C. Prescott ''Post-War U.S. Business Cycles: An Empirical Investigation Carnegie-Mellon Discussion Paper No. 451 (Pittsburgh: Carnegie-Mellon University May 1981).
21. Kuttner Kenneth N. Using Noisy Indicators to Measure Potential Output Federal Reserve Bank of Chicago Working Paper No. 1991-14 (Chicago: Federal Reserve Bank of Chicago June 1991).
22. Laxton Douglas Guy Meredith and David Rose Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications Staff Papers International Monetary Fund (Washington: IMF June 1995) pp. 344-74.
23. Laxton Douglas Nicholas Ricketts and David Rose Uncertainty Learning and Policy Credibility in Economic Behaviour and Policy Choice Under Price Stability (Ottawa: Bank of Canada June 1994).
24. Laxton Douglas David Rose and Robert Tetlow (1993a) Problems in Identifying Non-linear Phillips Curves: Some Further Consequences of Mismeasuring Potential Output Bank of Canada Working Paper 93-6 (Ottawa: Bank of Canada June 1993).
25. (1993b) Is the Canadian Phillips Curve Non-linear? Bank of Canada Working Paper 93-7 (Ottawa: Bank of Canada July 1993).
26. ( 1993c) Monetary Policy Uncertainty and the Presumption of Linearity Bank of Canada Technical Report No. 63 (Ottawa: Bank of Canada August 1993).
27. Laxton Douglas Kevin Shoom and Robert Tetlow Should the Change in the Gap Appear in the Phillips Curve? Some Consequences of Mismeasuring Potential Output Bank of Canada Working Paper 92-1 (Ottawa: Bank of Canada January 1992).
28. Mauskopf Eileen The Transmission Channels of Monetary Policy: How Have They Changed? Federal Reserve Bulletin Vol. 76 (Washington: Board of Governors of the Federal Reserve System December 1990) pp. 985-1008.
29. Nelson Charles R. and Heejoon Kang Spurious Periodicity in Inappropriately Detrended Time Series Econometrica Vol. 49 (May 1981) pp. 741-51. '
30. Perron Pierre The Great Crash the Oil Price Shock and the Unit Root Hypothesis Econometrica Vol. 57 (November 1989) pp. 1361-1401.
31. Ricketts Nicholas and David Rose Inflation Learning and Monetary Policy Regimes in the G-7 Economies Bank of Canada Working Paper 95-6 (Ottawa: Bank of Canada June 1995).
32. Roberts John M. (1994a) Evidence on the Monetary Transmission Mechanism: An Instrumental Variables Approach Board of Governors of the Federal Reserve System Working Paper (Washington: Federal Reserve System 1994).
33. (1994b) New Keynesian Economics and the Phillips Curve Journal of Money Credit and Banking Vol. 27 (November 1995) pp. 975-85.
34. (1994c) Is Inflation Sticky? Board of Governors of the Federal Reserve System Working Paper No. 152 (Washington: Economic Activity Section Division of Research and Statistics Board of Governors of the Federal Reserve System July 1994).
35. Rotemberg Julio J. The New Keynesian Microfoundations in NDER Macroeconomics Annual 1987 ed. by Stanley Fischer (Cambridge: MIT Press 1987) pp. 69-116.
36. Taylor John Aggregate Dynamics and Staggered Contracts Journal of Political Economy Vol. 88 (February 1980) pp. 1-23.
37. Tsiddon Daniel On the Stubbornness of Sticky Prices International Economic Review Vol. 32 (February 1991) pp. 69-75.
38. The (Mis)Behavior of the Aggregate Price Level Review of Economic Studies Vol. 60 (October 1993) pp. 889-902.
39. Turner David Speed Limit and Asymmetric Inflation Effects from the Output Gap in the Major Seven Economies OECD Economic Studies Vol. 24 (1995/1) pp. 57-88.