The claim of Diallo et al (2022) that in “fragile” economies, the inflation-unemployment trade-off is a trade-in, is apprised. The EPW produces independent and public-spirited scholarship and analyses ...
It is conventional wisdom that the reduced form Phillips curve has become flatter in recent decades. Accordingly, we show that the statistical relationship between changes in U.S. inflation and ...
Higher inflation does not mean lower unemployment. Many assertions about monetary policy are based on the Phillips Curve, illustrated in the following chart, that posits a particular relationship ...
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