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SSRN Electronic Journal, 2009 There is no Phillips curve in the United States, i.e. unemployment does not drive inflation at any time horizon. There is a statistically robust anti-Phillips curve - inflation leads unemployment by 10 quarters. Apparently, the anti-Phillips curve would be the conventional one, if the time would flow in the opposite direction.
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2020
Is the Phillips curve dead, or simply dormant? The Phillips curve traces out the relationship between the degree of slack in the labour market (unemployment) and the rate of change in wages, and hence in prices. After nearly a century in which this relationship held well (1870–1960), it broke down in the 1970s as both unemployment and inflation rose ...
Charles Goodhart, Manoj Pradhan
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Is the Phillips curve dead, or simply dormant? The Phillips curve traces out the relationship between the degree of slack in the labour market (unemployment) and the rate of change in wages, and hence in prices. After nearly a century in which this relationship held well (1870–1960), it broke down in the 1970s as both unemployment and inflation rose ...
Charles Goodhart, Manoj Pradhan
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2019
Friedman’s observations on the Phillips curve are considered. Consonant with Macroeconomics and the Phillips curve myth, it is argued that the idea that policymakers ever believed excess demand could bring low unemployment at the expense of only stable inflation is a fiction, and that in any case, Friedman made no original arguments on the point. Close
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Friedman’s observations on the Phillips curve are considered. Consonant with Macroeconomics and the Phillips curve myth, it is argued that the idea that policymakers ever believed excess demand could bring low unemployment at the expense of only stable inflation is a fiction, and that in any case, Friedman made no original arguments on the point. Close
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IFAC Proceedings Volumes, 1983
The paper describes how an optimization procedure may be utilized to uncover a relationship between wage-inflation and unemployment in a macro-econometric model taking the whole interplay of all the model's equations into consideration. The idea is to select a number of policy instruments and then with the use of these instruments to minimize wage ...
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The paper describes how an optimization procedure may be utilized to uncover a relationship between wage-inflation and unemployment in a macro-econometric model taking the whole interplay of all the model's equations into consideration. The idea is to select a number of policy instruments and then with the use of these instruments to minimize wage ...
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2011
The Phillips curve provides the key link between the real economy and inflation and lies at the heart of our analysis. Although there are various asymmetries involved in the relationship the most obvious facet is that the relationship is referred to as a curve.
David G. Mayes, Matti Virén
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The Phillips curve provides the key link between the real economy and inflation and lies at the heart of our analysis. Although there are various asymmetries involved in the relationship the most obvious facet is that the relationship is referred to as a curve.
David G. Mayes, Matti Virén
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The Original Phillips Curve Estimates
Economica, 1976In his original estimates of the relationship that subsequently became known as the Phillips Curve, Phillips (1958) adopted an unorthodox estimation procedure. This involved replacing the 53 raw observations with six averaged values and then estimating by means of a combination of least squares and graphical inspection. Recently, Desai (1973, 1975) has
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This is a unique account of the role played by 58 figures and diagrams commonly used in economic theory. These cover a large part of mainstream economic analysis, both microeconomics and macroeconomics and also general equilibrium theory.
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2005
Abstract The Norwegian model of inflation and the Phillips curve are rooted in the same epoch of macroeconomics. But while Aukrust’s model dwindled away from the academic scene, the Phillips curve literature ‘took off’ in the 1960s and achieved immense impact over the next four decades.
Gunnar Bårdsen +3 more
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Abstract The Norwegian model of inflation and the Phillips curve are rooted in the same epoch of macroeconomics. But while Aukrust’s model dwindled away from the academic scene, the Phillips curve literature ‘took off’ in the 1960s and achieved immense impact over the next four decades.
Gunnar Bårdsen +3 more
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The Long-Run Phillips Curve is ... a Curve
SSRN Electronic Journal, 2023Guido Ascari, Paolo Bonomolo, Qazi Haque
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THE REAPPEARING PHILLIPS CURVE
Oxford Economic Papers, 1983Sumner, M T, Ward, R
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