01823cas a2200313 a 4500 AALejournalIMF004812 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451866407 1018-5941 BD-DhAAL BD-DhAAL Iakova, Dora. Flattening of the Phillips Curve : Implications for Monetary Policy / Dora Iakova. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (19 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Over the past decade, inflation has become less responsive to domestic demand pressures in many industrial countries. This development has been attributed, in part, to globalization forces. A small macroeconomic model, estimated on UK data using Bayesian estimation, is used to analyze the monetary policy implications of this structural change. The focus is on the implications of a globalization-related flattening of the Phillips curve for the trade-off between inflation and output gap variability and for the efficient monetary policy response rule. Mode of access: Internet Efficient Monetary Policy Rules imf Globalization imf Inflation Expectation imf Phillips Curve imf WP imf United Kingdom imf IMF Working Papers; Working Paper ; No. 2007/076 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/076/001.2007.issue-076-en.xml IMF e-Library