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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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2016
Abstract Phillips wanted to find a way to incorporate prices into his economic models, but this was a missing link in economic experimentation. He started playing around with some UK data to address this problem, and ended up with what seemed to be a robust relationship between real and money variables.
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Abstract Phillips wanted to find a way to incorporate prices into his economic models, but this was a missing link in economic experimentation. He started playing around with some UK data to address this problem, and ended up with what seemed to be a robust relationship between real and money variables.
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The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions, including technical economics, methodology of the social ...
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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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Recherches économiques de Louvain, 1973
Le problème de l’évolution de courte période des salaires a donné lieu à un foisonnement d’analyses partielles, souvent contradictoires et d’ailleurs controversées. Dans un domaine qui est encore loin d’être intellectuellement maîtrisé, l’analyse de Phillips (1), malgré les controverses qu’elle a suscitées, continue à occuper une place de choix.
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Le problème de l’évolution de courte période des salaires a donné lieu à un foisonnement d’analyses partielles, souvent contradictoires et d’ailleurs controversées. Dans un domaine qui est encore loin d’être intellectuellement maîtrisé, l’analyse de Phillips (1), malgré les controverses qu’elle a suscitées, continue à occuper une place de choix.
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FEDS Notes
The slope of the Phillips curve flattened around the turn of the century. The slope, however, is also kinked (nonlinear) such that it is steeper in a tight labor market than in a more normal one. The magnitude of this kink means that the flattening of the Phillips curve around the turn of the century has not changed much the slope in a tight labor ...
Simon C. Smith +2 more
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The slope of the Phillips curve flattened around the turn of the century. The slope, however, is also kinked (nonlinear) such that it is steeper in a tight labor market than in a more normal one. The magnitude of this kink means that the flattening of the Phillips curve around the turn of the century has not changed much the slope in a tight labor ...
Simon C. Smith +2 more
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SSRN Electronic Journal
A slanted-L curve is well-suited to represent the nonlinearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces unemployment without creating strong inflationary pressures ...
Benigno, Pierpaolo, Eggertsson, Gauti B.
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A slanted-L curve is well-suited to represent the nonlinearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces unemployment without creating strong inflationary pressures ...
Benigno, Pierpaolo, Eggertsson, Gauti B.
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The Austrian Phillips Curve reconsidered
Empirica, 1985Den Ausgangspunkt fur diese Arbeit bildet die manchmal behauptete Stabilitat der osterreichischen Phillipskurve. In dieser Arbeit wird nun zu zeigen versucht, das diese Stabilitat auf den Umstand zuruckzufuhren ist, das bei den bisherigen Untersuchungen stets implizit angenommen wurde, die gleichgewichtige (naturliche) Arbeitslosenrate habe sich im ...
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