“THE GLOBAL SLACK HYPOTHESIS”: DALLAS FED

September 14, 2010 at 7:19 pm | Posted in Economics, Financial, Globalization, Research, World-system | Leave a comment

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Dallas Fed Staff Paper: “The Global Slack Hypothesis”

Dallas Fed Publications (dal.webmaster@dal.frb.org)
Tue 9/14/10

The Global Slack Hypothesis
By Enrique Martínez García and Mark A. Wynne
Staff Papers
Number 10 September 2010
Federal Reserve Bank of Dallas

We illustrate the analytical content of the global slack hypothesis in the context of a variant of the widely used New Open-Economy Macro model of Clarida, Galí, and Gertler (2002) under the assumptions of both producer currency pricing and local currency pricing. The model predicts that the Phillips curve for domestic CPI inflation will be
flatter under most plausible parameterizations, the more important international trade is to the domestic economy.

Abstract: http://dallasfed.org/research/staff/2010/staff1002.cfm
Issue (PDF): http://dallasfed.org/research/staff/2010/staff1002.pdf

Federal Reserve Bank of Dallas publications
http://dallasfed.org/pubs/e-sub/e-pubs.cfm
We welcome your comments, questions and suggestions.

e-mail us at dal.webmaster@dal.frb.org

Federal Reserve Bank of Dallas 2200 N.Pearl St. Dallas TX 75201

Dallas Fed Staff Paper: “The Global Slack Hypothesis”

Dallas Fed Publications (dal.webmaster@dal.frb.org)

The Global Slack Hypothesis

By Enrique Martínez García and Mark A. Wynne

Staff Papers

Number 10 September 2010

Federal Reserve Bank of Dallas

Tue 9/14/10

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