Is the Inflation-Output Nexus Asymmetric in the Euro Area?
Christophe Cahn () and
Working papers from Banque de France
This paper challenges the assumption that the inflation process within the euro area is well-described by a linear Phillips curve and investigates in a nonparametric framework how inflation is sensitive to output growth. An asymmetric output-inflation trade-off is pointed out in the euro area at both aggregated and individual country levels.
Keywords: Nonlinear Phillips curve; Price stability; Kernel smoothing. (search for similar items in EconPapers)
JEL-codes: C14 C32 E31 E52 (search for similar items in EconPapers)
Pages: 23 pages
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https://publications.banque-france.fr/sites/defaul ... g-paper_140_2006.pdf (application/pdf)
Journal Article: Is the inflation-output Nexus asymmetric in the Euro area? (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:140
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