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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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Anchored inflation expectations and the slope of the phillips curve
European Economic ReviewWe estimate a New Keynesian Phillips curve that allows for changes in the degree of anchoring of agents’ subjective inflation forecasts. The estimated slope coeffi cient in U.S. data is highly significant and stable over the period 1960 to 2019.
P. L. Jørgensen, Kevin J. Lansing
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Phillips Loops, Economic Relaxation, and Inflation Dynamics
AppliedMathWe show how the dynamics of inflation as represented by the Phillips curve follow from a response formalism suggested by Phillips and motivated by the Keynesian notion that it takes time for an economy to respond to an economic shock.
Raymond J. Hawkins
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The Slope of the Phillips Curve: Evidence from U.S. States
Social Science Research Network, 2020 We estimate the slope of the Phillips curve in the cross section of U.S. states using newly constructed state-level price indexes for non-tradeable goods back to 1978.
Jonathon Hazell +3 more
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برنامهریزی و بودجه, 2022 The trade-off between inflation and the output gap is different under each of the specifications of the Phillips curve, and therefore the optimal monetary policy will be different based on the assumption of each of these specifications.
Maryam Hematy
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Monetary Policy When the Phillips Curve Is Quite Flat
American Economic Journal: MacroeconomicsThis paper highlights how the presence of a monetary policy cost channel can offer new insights into the relation between monetary policy and inflation when the Phillips curve is quite flat. For instance, we highlight a key condition whereby lax monetary
P. Beaudry, Chen-Yu Hou, F. Portier
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Revisiting the Relationship between Inflation and Output Gap in Iranian Economy Using Wavelet Transform Approach [PDF]
Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2018 The purpose of this paper is to revisit the relationship between inflation and output gap by using wavelet coherence approach. This approach attempts to combine the classical time series analysis with frequency domain analysis, and presents the ...
Ramin Khochiani, Younes Nademi
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The Slope of the Phillips Curve
Finance and Economics Discussion SeriesWe review recent developments in the estimation and identification of the Phillips curve and its slope. We have three main objectives. First, we describe the econometric challenges faced by traditional approaches of estimating the Phillips curve, explain
F. Furlanetto, Antoine Lepetit
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Nonlinearities in Phillips curve: A semi-parametric approach
Economia Aplicada, 2015 How inflation relates to economic activity is one of the most important concern of macroeconomists. Usually the trade-off between inflation and output is assumed to be linear. But is that correct? If not, what is the correct non-linear relation?
Tiago Santana Tristão +1 more
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Did Monetary Policy Kill the Phillips Curve? Some Simple Arithmetics
Review of Economics and StatisticsAn apparent disconnect has taken place between inflation and economic activity in the pre-COVID US economy, causing some to believe that the Phillips curve has flattened. We argue that this view may be premature.
Drago Bergholt +2 more
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