Cobham D, Macmillan P & McMillan D (2004) The inflation/output variability trade-off: further evidence. Applied Economics Letters, 11 (6), pp. 347-350. https://doi.org/10.1080/1350485042000228178
The trade-off between the variability of inflation and that of output is estimated for the UK, using several different approaches to obtain the output gap, and then for a range of other countries; in all cases the trade-off retains the ‘sharp turning point’ found for the UK and US by other authors.
Applied Economics Letters: Volume 11, Issue 6
|Publication date online||19/08/2006|
|Publisher||Taylor and Francis|