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Is the inflation–output Nexus asymmetric in the Euro area?

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
94
Issue
1
Identifiers
DOI: 10.1016/j.econlet.2006.04.001
Keywords
  • Nonlinear Phillips Curve
  • Price Stability
  • Kernel Smoothing

Abstract

Abstract This paper challenges the assumption that the inflation process within the Euro area is well-described by a linear accelerationist Phillips curve and investigates a nonparametric framework how inflation is sensitive output. An asymmetric output–inflation trade-off is pointed out in the Euro area at both aggregated and individual country levels.

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