The Phillips curve and US monetary policy: what the FOMC transcripts tell us.

The Phillips curve framework, which includes the output gap and natural rate hypothesis, plays a central role in the canonical macroeconomic model used in analyses of monetary policy. It is now well understood that real-time data must be used to evaluate historical monetary policy. We believe that i...

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Bibliographic Details

Published in:	Oxford Economic Papers Vol. 64; no. 2; pp. 197 - 217
Main Authors:	Meade, Ellen E., Thornton, Daniel L.
Format:	Article
Published:	Oxford University Press / USA Apr2012
Subjects:	United States Macroeconomics Economic models Economic policy Phillips curve Monetary policy
Online Access:	View this record in EBSCOhost