Conference Paper
Hysteresis in unemployment - comments
Abstract: Larry Ball's paper contains two basic ideas. The first is a second generation Phillips Curve which relates changes in inflation to the level of the unemployment rate and the second is the idea that monetary policy has extremely persistent effects on the unemployment rate, well beyond effects over the business cycle.
Keywords: Inflation (Finance); Unemployment; Phillips curve;
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Bibliographic Information
Provider: Federal Reserve Bank of Boston
Part of Series: Conference Series ; [Proceedings]
Publication Date: 2008
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