scholarly journals The Flattening of the Phillips Curve: Policy Implications Depend on the Cause

2019 ◽  
pp. 1-7 ◽  
Author(s):  
Filippo Occhino
Keyword(s):  
Monetary Policy ◽  
Structural Changes ◽  
Phillips Curve ◽  
Policy Implications ◽  
The Past ◽  
Different Types ◽  
Historical Relationship

According to the historical relationship known as the Phillips curve, strengthening of the economy is commonly associated with increasing inflation. With inflation having only modestly picked up in the past few years as the economy has become more robust, many believe the Phillips curve relationship has weakened, with the curve becoming flatter. I show that the flattening can be due to very different types of structural changes and that knowing the type of change that has occurred is crucial for choosing the appropriate monetary policy.

scholarly journals The Phillips Curve: Back to the '60s?

2016 ◽  
Vol 106 (5) ◽  
pp. 31-34 ◽  
Author(s):  
Olivier Blanchard
Keyword(s):  
Monetary Policy ◽  
Standard Error ◽  
Phillips Curve ◽  
Inflation Expectations ◽  
Low Level ◽  
The Past ◽  
The U.S

This paper reexamines the behavior of inflation and unemployment and reaches four conclusions: 1) The U.S. Phillips curve is alive and well (at least as well as in the past). 2) Inflation expectations however have become steadily more anchored. 3) The slope of the curve has substantially declined. But the decline dates back to the 1980s rather than to the crisis. 4) The standard error of the residual in the relation is large, especially in comparison to the low level of inflation. Each of the four conclusions presents challenges for the conduct of monetary policy.

scholarly journals Asymmetric Effects of Monetary Policy on the Armenian Economy

2021 ◽  
Vol 80 (1) ◽  
pp. 46-103
Author(s):  
Haykaz Igityan ◽  
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Phillips Curve ◽  
Small Open Economy ◽  
Adjustment Costs ◽  
Policy Implications ◽  
Policy Shocks ◽  
The Asymmetry ◽  
Monetary Policy Shock ◽  
Monetary Policy Transmission Mechanism

Whether inflation and output respond symmetrically or asymmetrically to the same size of contractionary and expansionary monetary policy shock has important policy implications. This paper shows the presence of asymmetric responses in Armenian inflation and output to positive and negative monetary policy shocks of the same size by employing econometric models. Contractionary policy decreases inflation less than expansionary policy increases it. Output reacts in the opposite way. An estimated small open economy DSGE model with sticky wages and investment adjustment costs explains about half of the asymmetry observed in the monetary policy transmission mechanism. This paper finds that the main part of inflation reaction asymmetry is a result of a highly convex Phillips curve for the importers. The nonlinearities of the internal economy explain the predominant part of the asymmetry in output reaction.

scholarly journals India’s Inflation Process Before and After Flexible Inflation Targeting

2020 ◽  
Vol 20 (251) ◽  
Author(s):  
Patrick Blagrave ◽  
Weicheng Lian
Keyword(s):  
Inflation Targeting ◽  
Structural Changes ◽  
Phillips Curve ◽  
Structural Model ◽  
Food Prices ◽  
Policy Implications ◽  
Inflation Expectations ◽  
Curve Estimation ◽  
Core Inflation ◽  
Before And After

We study the inflation process in India, focusing on the periods before and after the adoption of flexible inflation-forecast targeting (FIT) in India. Our analysis uses several approaches including standard Phillips curve estimation for headline and core inflation, an examination of the sensitivity of medium-term inflation expectations to inflation surprises, and the properties of convergence between headline and core inflation. Results indicate an important role for domestic factors in driving the inflation process, and there is evidence that expectations have become more anchored since 2015. This result could be attributable to FIT adoption, or to persistently low food prices which dominate the post-FIT-adoption period. The policy implications of these structural changes in the inflation process are investigated using a semi-structural model calibrated to the Indian economy.

Study of the Molecular Architecture of Keratin Filaments by Electron Microscopy

1982 ◽  
Vol 40 ◽  
pp. 118-119
Author(s):  
U. Aebi ◽  
P. Rew ◽  
T.-T. Sun
Keyword(s):  
Electron Microscopy ◽  
Structural Organization ◽  
Cell Types ◽  
Structural Features ◽  
Molecular Architecture ◽  
The Past ◽  
Keratin Filaments ◽  
Different Types ◽  
10 Nm Filaments ◽  
Different Cell Types

Various types of intermediate-sized (10-nm) filaments have been found and described in many different cell types during the past few years. Despite the differences in the chemical composition among the different types of filaments, they all yield common structural features: they are usually up to several microns long and have a diameter of 7 to 10 nm; there is evidence that they are made of several 2 to 3.5 nm wide protofilaments which are helically wound around each other; the secondary structure of the polypeptides constituting the filaments is rich in ∞-helix. However a detailed description of their structural organization is lacking to date.

Studies on the Behavior Some Paints in Electro-insulating Fluid Based on Vegetable Esters

2018 ◽  
Vol 69 (5) ◽  
pp. 1139-1144
Author(s):  
Iosif Lingvay ◽  
Adriana Mariana Bors ◽  
Livia Carmen Ungureanu ◽  
Valerica Stanoi ◽  
Traian Rus
Keyword(s):  
Structural Changes ◽  
Oxidation Processes ◽  
High Oleic ◽  
Painting Materials ◽  
Insulating Paper ◽  
Different Types ◽  
Mechanism And Kinetics ◽  
Kinetics Of ◽  
Natural Ester

For the purpose of using three different types of painting materials for the inner protection of the transformer vats, their behavior was studied under actual conditions of operation in the transformer (thermal stress in electro-insulating fluid based on the natural ester in contact with copper for electro-technical use and electro-insulating paper). By comparing determination of the content in furans products (HPLC technique) and gases formed (by gas-chromatography) in the electro-insulating fluid (natural ester with high oleic content) thermally aged at 130 �C to 1000 hours in closed glass vessels, it have been found that the presence the investigated painting materials lead to a change in the mechanism and kinetics of the thermo-oxidation processes. These changes are supported by oxygen dissolved in oil, what leads to decrease both to gases formation CO2, CO, H2, CH4, C2H4 and C2H6) and furans products (5-HMF, 2-FOL, 2 -FAL and 2-ACF). The painting materials investigated during the heat treatment applied did not suffer any remarkable structural changes affecting their functionality in the electro-insulating fluid based on vegetable esters.

Lessons Not Learned: Why is There Still a Crisis-Level Shortage of Accounting Ph.D.s?

2014 ◽  
Vol 28 (2) ◽  
pp. 313-330 ◽  
Author(s):  
R. David Plumlee ◽  
Philip M. J. Reckers
Keyword(s):  
Student Perceptions ◽  
Structural Changes ◽  
Ad Hoc ◽  
Doctoral Programs ◽  
Cumulative Impact ◽  
Program Administrators ◽  
Accounting Faculty ◽  
Present Information ◽  
Different Types

SYNOPSIS: In 2005, an ad hoc committee appointed by the American Accounting Association (AAA) documented a crisis-level shortage of accounting Ph.D.s and recommended significant structural changes to doctoral programs (Kachelmeier, Madeo, Plumlee, Pratt, and Krull 2005). However, subsequent studies show that the shortage continues and the cumulative costs grow (e.g., Fogarty and Holder 2012; Brink, Glasscock, and Wier 2012). The Association to Advance Collegiate Schools of Business (AACSB) recently called for renewed attention to the problem (AACSB 2013b). We contribute to the literature by providing updated information regarding responses by doctoral programs and, from the eyes of potential candidates, of continuing impediments to solving the doctoral shortage. In this paper, we present information gathered through surveys of program administrators and master's and Accounting Doctoral Scholars Program (ADS) students. We explore (1) the cumulative impact of the Ph.D. shortage as of 2013, including its impact on accounting faculty composition, across different types of institutions, (2) negative student perceptions of Ph.D. programs and academic accounting careers, which discourage applicants from pursuing Ph.D. programs, and (3) impediments facing institutions in expanding doctoral programs.

Is Healthcare Special?

2018 ◽  
Author(s):  
Gordon Moore ◽  
John A. Quelch ◽  
Emily Boudreau
Keyword(s):  
Consumer Choice ◽  
Special Relationship ◽  
Individual Choice ◽  
Health Consequences ◽  
Critical Question ◽  
The Past ◽  
Different Types ◽  
Collective Benefit ◽  
Patient Ethics

Chapter 2 asks the critical question of whether healthcare is different from other consumer-driven markets. In the past, many pushed back on the notion that healthcare could be a consumer-driven industry, arguing that it is fundamentally different from other markets. This chapter acknowledges and reviews these critiques, highlighting four areas that might present challenges to increasing consumer choice in healthcare: the special relationship between doctor and patient, ethics and morality, individual choice versus collective benefit, and the health consequences of consumer choice. In doing so, this chapter also presents a schematic for thinking about the different types of healthcare choices, arguing that not all choices are equal and consumers may be more prepared to make decisions in some areas as opposed to others. In presenting the counterargument to consumer choice, this chapter asks the reader to consider the drawbacks and potential limitations of consumer choice in healthcare.

Vietnamese Historical Writing

2018 ◽  
Author(s):  
Patricia Pelley
Keyword(s):  
Cold War ◽  
East Asian ◽  
History Writing ◽  
Southern State ◽  
The Past ◽  
South Vietnam ◽  
Political Function ◽  
Different Types ◽  
The Cold War ◽  
North Vietnam

This chapter demonstrates how the process of decolonization and the ensuing separation of Vietnam into a northern and southern state as part of the Cold War in Asia led to different types of history-writing. In both Vietnamese regimes, the writing of history had to serve the state, and in both countries historians emphasized its political function. Whereas North Vietnam located itself in an East Asian and Marxist context, historians of South Vietnam positioned it within a Southeast Asian setting and took a determinedly anti-communist position. After 1986—over a decade after reunification—with past tensions now relaxed, the past could be revaluated more openly under a reformist Vietnamese government that now also permitted much greater interaction with foreign historians.

Different Types of Auricular Keloids and Treatment by Intralesional Cryosurgery: Best Practice for Obtaining Long-Lasting Clinical Results

Dermatology ◽  
2021 ◽  
pp. 1-10
Author(s):  
Yaron Har-Shai ◽  
Lior Har-Shai ◽  
Viktor A. Zouboulis ◽  
Christos C. Zouboulis
Keyword(s):  
Quality Of Life ◽  
Body Image ◽  
Recurrence Rate ◽  
Best Practice ◽  
Clinical Results ◽  
Psychosocial Impact ◽  
Aesthetic Outcome ◽  
The Past ◽  
Different Types

<b><i>Background:</i></b> Auricular keloids belong to the most perplexing medical conditions, which have significant psychosocial impact on the patient’s body image and quality of life. <b><i>Summary:</i></b> The article is purposed to provide dermatologists and plastic surgeons with the best proven practice using intralesional cryosurgery for the treatment of the different auricular keloid types in order to obtain superior clinical results by minimizing the probability of recurrence. In the past 20 years, the authors have developed novel procedures in order to increase the effectiveness of intralesional cryosurgery on auricular keloids, including hydrodissection, warm gauze technique, and excision of dangling skin. Long-lasting clinical results with a low recurrence rate and a satisfactory aesthetic outcome are achieved with no deformation of the ear framework.

Neighborhoods and Intimate Partner Violence: A Decade in Review

2021 ◽  
pp. 155708512098763
Author(s):  
Emily M. Wright ◽  
Gillian M. Pinchevsky ◽  
Min Xie
Keyword(s):  
Intimate Partner Violence ◽  
Partner Violence ◽  
Structural Features ◽  
Intimate Partner ◽  
Neighborhood Context ◽  
Policy Implications ◽  
Economic Disadvantage ◽  
The Past ◽  
Research Findings ◽  
And Gender

We consider the broad developments that have occurred over the past decade regarding our knowledge of how neighborhood context impacts intimate partner violence (IPV). Research has broadened the concept of “context” beyond structural features such as economic disadvantage, and extended into relationships among residents, collective “action” behaviors among residents, cultural and gender norms. Additionally, scholars have considered how the built environment might foster (or regulate) IPV. We now know more about the direct, indirect, and moderating ways that communities impact IPV. We encourage additional focus on the policy implications of the research findings.

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