Benati, Luca (2015). The Long-Run Phillips Curve: A Structural VAR Investigation. Journal of monetary economics, 76, pp. 15-28. Elsevier 10.1016/j.jmoneco.2015.06.007
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Both cointegration methods, and non-cointegrated structural VARs identified based on either long-run restrictions, or a combination of long-run and sign restrictions, are used in order to explore the long-run trade-off between inflation and the unemployment rate in the post-WWII U.S., U.K., Euro area, Canada, and Australia. Overall, neither approach produces clear evidence of a non-vertical trade-off. The extent of uncertainty surrounding the estimates is however substantial, thus implying that a researcher holding alternative priors about what a reasonable slope of the long-run trade-off might be will likely not see her views falsified
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Benati, Luca |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0304-3932 |
Publisher: |
Elsevier |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
24 Jun 2016 13:23 |
Last Modified: |
05 Dec 2022 14:56 |
Publisher DOI: |
10.1016/j.jmoneco.2015.06.007 |
BORIS DOI: |
10.7892/boris.82119 |
URI: |
https://boris.unibe.ch/id/eprint/82119 |
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