Does Global Slack Matter More than Domestic Slack in Determining U.S. Inflation?

Fabio Milani

No 80910, Working Papers from University of California-Irvine, Department of Economics

Abstract: This paper employs a structural model to estimate whether global output gap has become an important determinant of U.S. inflation dynamics. The results provide support for the relevance of global slack as a determinant of U.S. inflation after 1985. The role of domestic output gap, instead, seems to have diminished over time.

Keywords: Globalization; Global Slack; Inflation Dynamics; Phillips Curve; Bayesian Estimation (search for similar items in EconPapers)
JEL-codes: E31 E50 E52 E58 F41 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2008-11
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
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https://www.economics.uci.edu/files/docs/workingpapers/2008-09/Milani-10.pdf (application/pdf)

Related works:
Journal Article: Does global slack matter more than domestic slack in determining U.S. inflation? (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:irv:wpaper:080910

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