Phillips’ Curve, Independence of Central Banks and Inflation Targeting

Malcolm Sawyer ()

Chapter 8 in Macroeconomics, Finance and Money, 2010, pp 126-138 from Palgrave Macmillan

Abstract: Abstract Philip Arestis has contributed to many areas of macroeconomics and monetary economics. Those contributions have included theoretical and empirical investigations of inflation, and the development of critiques of inflation targeting, again both in the theoretical dimension and the empirical.1 The purpose of this chapter is to focus on particular aspects of inflation and inflation targeting, namely the Phillips’ curve and its role in the arguments for independence of the Central Bank and the adoption of inflation targeting. In doing so, I draw heavily on discussions and joint work with Philip over many years.

Keywords: Interest Rate; Monetary Policy; Central Bank; Asset Price; Real Wage (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28558-3_8

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DOI: 10.1057/9780230285583_8

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