Imperfect information, composition of demand shocks, and the flattening of the Phillips curve.

We study why inflation responds differently to economic activity over time. Using survey data covering the universe of Japanese firms, we show that firms are unable to perfectly distinguish aggregate from sector-specific demand changes, leading to positively correlated expectations about these two c...

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Detalles Bibliográficos

Publicado en:	Oxford Economic Papers Vol. 78; no. 3; pp. 613 - 642
Autores principales:	Okuda, Tatsushi, Tsuruga, Tomohiro, Zanetti, Francesco
Formato:	Artículo
Publicado:	Oxford University Press / USA Jul2026
Materias:	Supply & demand Price inflation Economic activity Information asymmetry Phillips curve Aggregate demand
Acceso en línea:	Ver este registro en EBSCOhost