Conference Paper

Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments


Abstract: Historical experience suggests an important role for some deviation from the most restricted form of rational expectations in inflation dynamics, but also shows that other aspects of sluggish price adjustment, such as nominal rigidities, are important; and the available indicators of inflation expectations show that imperfect information regarding central bank intentions has been one source of inertia in inflation expectations.

Keywords: Unemployment; Phillips curve; Inflation (Finance);

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Provider: Federal Reserve Bank of Boston

Part of Series: Conference Series ; [Proceedings]

Publication Date: 2008

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