Korea’s Inflation Expectations with regard to the Phillips Curve and Implications of the COVID-19 Crisis
This paper estimates the expectation-augmented Phillips curve, which explains inflation dynamics, in Korea. The phenomenon of low inflation in Korea has been going on for quite some time, in particular since 2012. During the Covid-19 crisis, due to low inflation expectations the operation of monetar...
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| Format: | Article |
| Language: | English |
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Korea Development Institute
2021-05-01
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| Series: | KDI Journal of Economic Policy |
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| Online Access: | https://kdijep.org/v.43/2/81/Korea%E2%80%99s+Inflation+Expectations+with+regard+to+the+Phillips+Curve+and+Implications+of+the+COVID+19+Crisis%E2%80%A0 |