NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Alejandro Justiniano, Giorgio E. Primiceri, Andrea Tambalotti

NBER Working Paper No. 17071
Issued in May 2011
NBER Program(s):   EFG   ME

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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Acknowledgments

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Published: Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "Is There a Trade-Off between Inflation and Output Stabilization?," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(2), pages 1-31, April.

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