Mikael Apel () and Per Jansson
Additional contact information
Mikael Apel: Monetary Policy Department, Central Bank of Sweden, Postal: Sveriges Riksbank, SE-103 37 Stockholm, Sweden
Per Jansson: Monetary Policy Department, Central Bank of Sweden, Postal: Sveriges Riksbank, SE-103 37 Stockholm, Sweden
Abstract: An approach to decomposing and interpreting the inflation process is proposed. It suggests that the low U.S. inflation rate in recent years reflects a structural development, but that the low levels of unemployment may be a mainly cyclical phenomenon.
Keywords: Inflation; NAIRU; New economy; Phillips curve; Unobserved-components models
12 pages, June 1, 2000
Full text files
WP_109.pdf
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