United States: Selected Issues

October 28, 1998

Preview Citation

Format: Chicago

United States: Selected Issues, (USA: International Monetary Fund, 1998) accessed December 26, 2024

Summary

This Selected Issues paper on the United States explains the behavior of inflation and unemployment during 1997–98. The paper highlights that a simple Philips curve equation relating inflation to the unemployment gap has overpredicted inflation since 1993. The mean forecast error for 1994–97 is greater than zero by an amount equivalent to two-thirds of the standard deviation of the forecast error. The paper also examines the developments in the U.S. stock prices. Alternative approaches to social security reform are also discussed.

Subject: Asset prices, Financial institutions, Flat tax, Income tax systems, Inflation, Prices, Stocks, Taxes

Keywords: Asia and Pacific, Asset prices, CR, Current account, DAC participant, Defense outlay, Earnings ratio, Flat tax, Global, Income tax systems, Inflation, ISCR, OECD Development Assistance Committee, Outlay, Price, Stocks, U.S. official development assistance

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/105
Stock No:

1USAEA0011998
ISBN:

9781451839500
ISSN:

1934-7685

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