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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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EMU and Anchoring of Inflation Expectations, Economia Internazionale / International Economics 4 (2016). David Mayes, Maritta Paloviita, Matti Virén


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text David Mayes, Maritta Paloviita, Matti Virén 
Number of authors
Status Published
Year of publication 2016 
Date 15.11.2016 
Name of article EMU and Anchoring of Inflation Expectations 
Name of journal Economia Internazionale / International Economics
Volume of issue 69 
Number of issue
Pages 337-360 
Abstract This paper provides a new way of assessing the credibility of monetary policy by analyzing the dispersion of inflation-unemployment observations over time, which is both simple and free from ambiguities related to the choice of the Phillips curve specification and modelling of inflation expectations. The analysis uses data from eleven EMU countries and nine non-EMU countries for 1984-1998 and 1999-2013. The dispersion measures use alternative weights for inflation and unemployment and also a simple Misery index. We find that dispersion has decreased during the EMU period but this just mirrors experience in the OECD over the same period.
Free text descriptor in English Misery-Index, Inflation, Unemployment, Phillips Curve 
JEL-codes E31, E61 
ISSN / e-ISSN 2499-8265 
auki Internet addresses