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The Mittag-Leffler Fitting of the Phillips Curve
Mathematics, 2019 In this paper, a mathematical model based on the one-parameter Mittag-Leffler function is proposed to be used for the first time to describe the relation between the unemployment rate and the inflation rate, also known as the Phillips curve. The Phillips
Tomas Skovranek
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Market Power, NAIRU, and the Phillips Curve
Abstract and Applied Analysis, 2020 We explore the relationship between unemployment and inflation in the United States (1949-2019) through both Bayesian and spectral lenses. We employ Bayesian vector autoregression (“BVAR”) to expose empirical interrelationships between unemployment ...
Derek Zweig
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Low Inflation Bends the Phillips Curve Around the World
Social Science Research Network, 2020 This paper finds strong support for a Phillips curve that becomes nonlinear when inflation is “low”—which our baseline model defines as less than 3 percent.
Kristin Forbes +2 more
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Vacancies, unemployment, and the Phillips curve [PDF]
European Economic Review, 2008 Abstract The canonical new Keynesian Phillips curve has become a standard component of models designed for monetary policy analysis. However, in the basic new Keynesian model, there is no unemployment, all variation in labor input occurs along the intensive hours margin, and the driving variable for inflation depends on workers’ marginal rates of ...
Ravenna, Federico, Walsh, Carl E.
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Empirical Analysis on The Existence of The Phillips Curve
MATEC Web of Conferences, 2018 The Phillips curve shows the trade-off relationship between the inflation and unemployment rates. A rise in inflation due to the high economic growth, more jobs are available and therefore unemployment will fall.
Shaari Mohd Shahidan +3 more
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Phillips Curve: An Empirical Research on Romania [PDF]
Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics, 2020 This paper analyses the Phillips curve for Romania, eventually choosing the optimal type of model, while also analysing the implications on monetary policy.
Cristina Gabriela ZAMFIR +1 more
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A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
Economia Aplicada, 2013 This paper implements a wavelets-based analysis of the Phillips curve hypothesis — as formulated by Friedman and Phelps — for the Brazilian economy, concerning the last thirty years.
Edgard Almeida Pimentel
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, 1995 Just before the start of the Monetarist decade, the Journal of Political Economy (1973, 496-502) republished Irving Fisher\u27s 1926 article on A Statistical Relation Between Unemployment and Price Changes , under the title I Discovered the Phillips ...
Leeson, Robert
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State-Dependent Phillips Curve
EconomiesWe propose a state-dependent Phillips curve (PC) where the regime has changed endogenously. Using this framework, a free-standing PC is constructed. This study tests the robustness of the model, various types of inflation, slack measures, and various ...
Hyun Hak Kim, Na Kyeong Lee
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Inference and Forecasting Based on the Phillips Curve
KDI Journal of Economic Policy, 2016 In this paper, we conduct uniform inference of two widely used versions of the Phillips curve, specifically the random-walk Phillips curve and the New-Keynesian Phillips curve (NKPC). For both specifications, we propose a potentially time-varying natural
KIM, KUN HO, PARK, SUNA
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