References
- Akerlof , G.A. , Dickens , W.T. and Perry , G.L. 1996 . The macroeconomics of low inflation . Brookings Papers on Economic Activity , 1 : 1 – 59 .
- Akerlof , G.A. , Dickens , W.T. and Perry , G.L. 2000 . Near‐rational wage and price setting and the long‐run Phillips curve . Brookings Papers on Economic Activity , 1 : 1 – 44 .
- Andersen , P.S. and Wascher , W.L. 1999 . Sacrifice ratios and the conduct of monetary policy in conditions of low inflation , Switzerland : Bank of International Settlements . BIS Working Paper 82
- Ball , L. 1994 . “ What determines the sacrifice ratio? ” . In Monetary Policy , Edited by: Mankiw , N.G. 155 – 182 . Chicago : Chicago University Press .
- Ball , L. 1999 . Aggregate demand and long‐run unemployment . Brookings Papers on Economic Activity , 2 : 189 – 251 .
- Ball , L. and Mankiw , N.G. 2002 . The NAIRU in theory and practice . Journal of Economic Perspectives , 16 ( 4 ) : 115 – 136 .
- Ball , L. , Mankiw , N.G. and Romer , D. 1988 . The new Keynesian economics and the output–inflation trade‐off . Brookings Papers on Economic Activity , 1 : 1 – 65 .
- Blanchard , O.J. and Quah , D. 1989 . The dynamic effects of aggregate demand and supply disturbances . American Economic Review , 79 ( 4 ) : 655 – 673 .
- Boone , L. and Mojon , B. 1998 . Sacrifice ratios in Europe: a comparison CEPII Working Paper 07
- Cecchetti , S.G. 1994 . “ Comment ” . In Monetary policy , Edited by: Mankiw , N.G. 188 – 193 . Chicago : Chicago University Press .
- Cecchetti , S.G. and Rich , R.W. 2001 . Structural estimates of the U.S. sacrifice ratio . Journal of Business and Economic Statistics , 19 ( 4 ) : 416 – 427 .
- Cuñado , J. and de Gracia , F.P. 2003 . Sacrifice ratios: some lessons from EMU countries, 1960–2001 . International Review of Applied Economics , 17 ( 3 ) : 327 – 337 .
- Dickey , D.A. and Fuller , W.A. 1981 . Likelihood ratio statistics for autoregressive time series with a unit root . Econometrica , 49 ( 4 ) : 1057 – 1072 .
- Engle , R.F. and Granger , C.W.J. 1987 . Cointegration and error correction: representation, estimation and testing . Econometrica , 55 ( 2 ) : 251 – 276 .
- European Central Bank . 2003 . The outcome of the ECB’s evaluation of its monetary policy strategy . Monthly Bulletin , : 79 – 92 .
- Filardo , A.J. 1998 . New evidence on the output cost of fighting inflation . Federal Reserve Bank of Kansas City Economic Review , 83 ( 3 ) : 33 – 61 .
- Fuhrer , J.C. 1995 . The persistence of inflation and the cost of disinflation . New England Economic Review , : 3 – 16 .
- Gordon , R.J. and King , S.R. 1982 . The output cost of disinflation in traditional and vector autoregressive models . Brookings Papers on Economic Activity , 1 : 205 – 242 .
- Jordan , T.J. 1997 . Disinflation costs, accelerating inflation gains and Central Bank independence . Review of World Economics/Weltwirtschaftliches Archiv , 133 ( 1 ) : 1 – 21 .
- Logeay , C. and Tober , S. 2006 . Hysteresis and the Nairu in the euro area . Scottish Journal of Political Economy , 53 ( 4 ) : 409 – 429 .
- Lucas , R.E. 1973 . Some international evidence on output–inflation tradeoffs . American Economic Review , 63 ( 3 ) : 326 – 334 .
- Neely , C.J. and Waller , C.J. 1997 . A benefit–cost analysis of disinflation . Contemporary Economic Review , 15 ( 1 ) : 50 – 64 .
- Okun , A.M. 1978 . Efficient disinflationary policies . American Economic Review , 68 ( 2 ) : 348 – 352 .
- Phillips , P.C.B. and Perron , P. 1988 . Testing for a unit root in time series regression . Biometrika , 75 : 335 – 346 .
- Sargent , T.J. 1983 . “ Stopping moderate inflations: the methods of Poincaré and Thatcher ” . In Inflation, debt and indexation , Edited by: Dornbusch , R. and Simonsen , M.H. Cambridge, MA : MIT Press .
- Zhang , L.H. 2005 . Sacrifice ratios with long‐lived effects . International Finance , 8 ( 2 ) : 231 – 262 .