Discussion paper

DP8407 Is there a trade-off between inflation and output stabilization?

Andrea Tambalotti Giorgio Primiceri Alejandro Justiniano

1 Jun 2011

Not in an estimated DSGE model of the US economy, once we account for the fact that most of the high-frequency volatility in wages appears to be due to noise, rather than to variation in workers' preferences or market power.

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Citation

Tambalotti, A, G Primiceri and A Justiniano (2011), ‘DP8407 Is there a trade-off between inflation and output stabilization?‘, CEPR Discussion Paper No. 8407. CEPR Press, Paris & London. https://cepr.org/publications/dp8407