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Academic literature on the topic 'Phillips curve'

Author: Grafiati

Published: 4 June 2021

Last updated: 28 July 2024

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Journal articles on the topic "Phillips curve"

1

Imbs, Jean, Eric Jondeau, and Florian Pelgrin. "Sectoral Phillips curves and the aggregate Phillips curve." Journal of Monetary Economics 58, no. 4 (May 2011): 328–44. http://dx.doi.org/10.1016/j.jmoneco.2011.05.013.

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Hasan, M. Aynul. "Is there a Phillips Curve in Pakistan?" Pakistan Development Review 27, no. 4II (December 1, 1988): 839–51. http://dx.doi.org/10.30541/v27i4iipp.839-851.

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Since the publication of A.W. Phillip's (1958) influential paper on the relationship between unemployment and the rate of change of the money wage rate, count• less studies have appeared to refine, reformulate and re-estimate structural equations explaining the rates of change in the wage rates and the price level or inflation rates. 1 The empirical findings of the Phillips curve relationships during the past two decades have been considered to be a contentious issue particularly in developed countries. 2 Despite the fact that the original hypothesis of the Phillips curve has been questioned and challenged,3 nevertheless, the importance of this subject has been preserved by its continued relevance for policy. Not only that, Friedman (1970, 1971) claimed that the Phillips curve plays the important role of the "missing equation" separating his own quantity theory of money from the Keynesian theory.

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Mathews, Don. "DID IRVING FISHER REALLY DISCOVER THE PHILLIPS CURVE?" Journal of the History of Economic Thought 41, no. 2 (April 22, 2019): 255–71. http://dx.doi.org/10.1017/s1053837218000275.

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Economic lore has it that, with his 1926 article, “A Statistical Relation between Unemployment and Price Changes,” Irving Fisher “discovered the Phillips curve.” Did he? This paper argues he did not, for two reasons. One: the statistical relationship between inflation and unemployment that Fisher described in his 1926 article was contemporaneously described by Alvin Hansen, Henri Fuss, John Rotherford Bellerby, and Arthur Pigou in their own studies. Two: the statistical relationship that Fisher, Hansen, Fuss, Bellerby, and Pigou described is substantially different from the statistical relationship that Alban William Phillips described in his famous 1958 paper, as well as the many variations of the Phillips curve in the literature, including today’s conventional expectations-augmented Phillips curve. To correct the economic lore, the work of Fisher, Hansen, Fuss, Bellerby, and Pigou on the statistical relationship between inflation and unemployment and Phillips’s 1958 paper should be viewed as separate contributions.

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Smith, Simon C., Allan Timmermann, and Jonathan Wright. "Breaks in the Phillips Curve: Evidence from Panel Data." Finance and Economics Discussion Series, no. 2023-015 (April 2023): 1–62. http://dx.doi.org/10.17016/feds.2023.015.

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We revisit time-variation in the Phillips curve, applying new Bayesian panel methods with breakpoints to US and European Union disaggregate data. Our approach allows us to accurately estimate both the number and timing of breaks in the Phillips curve. It further allows us to determine the existence of clusters of industries, cities, or countries whose Phillips curves display similar patterns of instability and to examine lead-lag patterns in how individual inflation series change. We find evidence of a marked flattening in the Phillips curves for US sectoral data and among EU countries, particularly poorer ones. Conversely, evidence of a flattening is weaker for MSA-level data and for the wage Phillips curve. US regional data and EU data point to a kink in the price Phillips curve which remains relatively steep when the economy is running hot.

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Graafland, J. J. "From Phillips curve to wage curve." De Economist 140, no. 4 (December 1992): 501–14. http://dx.doi.org/10.1007/bf01725242.

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Grabia, Tomasz. "The Phillips Curve Controversy." Gospodarka Narodowa 273, no. 5 (October 31, 2014): 5–28. http://dx.doi.org/10.33119/gn/100869.

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BRESSER-PEREIRA, LUIZ CARLOS, and YOSHIAKI NAKANO. "Inflação inercial e curva de Phillips." Brazilian Journal of Political Economy 6, no. 2 (April 1986): 237–43. http://dx.doi.org/10.1590/0101-31571986-2069.

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RESUMO Esta nota apresenta o problema da indexação de salários, taxa de câmbio e outros preços na curva de Phillips. Com este objetivo desenvolvemos um modelo simplificado do processo inflacionário decompondo-o em: (1) inflação inercial; (2) a curva de Phillips; (3) inflação de choque administrado ou de oferta. Usando este modelo, primeiro mostramos que um choque de oferta desloca a curva de Phillips acelerando a taxa de tendência da inflação inercial. Segundo, que uma pressão de demanda contínua através da curva de Phillips leva a uma aceleração contínua da taxa de inflação. E terceiro, que um aumento na taxa de desemprego pode levar a um aumento oligopolista na margem de lucro, o que também leva a um deslocamento da curva de Phillips e a uma aceleração da inflação.

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Simister, John. "The Phillips Curve and Oil Prices." International Research in Economics and Finance 1, no. 1 (December 10, 2017): 62. http://dx.doi.org/10.20849/iref.v1i1.272.

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This paper investigates the “Phillips curve”, a controversial topic in macroeconomics. Many economists claim the Phillips curve is unreliable; recent evidence suggests economists should reconsider the Phillips curve. In particular, this paper investigates a modified Phillips curve, broadly consistent with the 1958 paper by Phillips: it includes import prices as an important influence on inflation. Analysis begins with UK data, as a case study: three Figures are shown, with a discussion on effects of OPEC global oil prices-rises in 1970s. This paper reports regression evidence, for nine countries, which support the idea that the Phillips curve is clearer if we control for import prices.

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Button, Kenneth. "A. J. BROWN, “PHILLIPS’S CURVE,” AND ECONOMIC NETWORKS IN THE 1950S." Journal of the History of Economic Thought 40, no. 2 (April 17, 2018): 243–64. http://dx.doi.org/10.1017/s1053837217000025.

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This paper examines the role of the English economist Arthur (A. J.) Brown in the 1950s debate surrounding the wage-rate change/unemployment relationship. While the publication of William (Bill) Phillips’s 1958 paper and the subsequent moniker of the “Phillips Curve” attracted a wealth of attention, Brown’s book on the subject, The Great Inflation, and his later work on inflation have received much less. Here, the focus is on redressing this situation somewhat by looking at Brown’s work to see how much it predates Phillips’s paper, and what differences there are to it. We also consider this within the changing institutional structure of English economic networks in the 1950s that led to a relatively rapid acceptance of Phillips’s analysis and, in many cases, to a strong, ordinal interpretation of the Phillips Curve that overshadowed Brown’s work.

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Rusticelli, Elena. "Rescuing the Phillips curve." OECD Journal: Economic Studies 2014, no. 1 (March 27, 2015): 109–27. http://dx.doi.org/10.1787/eco_studies-2014-5jxrcm2cdff6.

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Dissertations / Theses on the topic "Phillips curve"

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Lee, Jae Joon. "Studies on the Phillips curve /." Thesis, Connect to this title online; UW restricted, 2004. http://hdl.handle.net/1773/7498.

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Barnard, Russell. "Implications of a modern phillips curve." Thesis, Boston College, 2017. http://hdl.handle.net/2345/bc-ir:107432.

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Thesis advisor: Robert Murphey
This paper demonstrates that a linear Phillips Curve has neither theoretical nor empirical justification. I first alter the traditional linear model specification to allow for non-linearity between inflation and unemployment. I show that these non-linear models produce greater R2’s than similar linear versions. I provide theoretical justification for the non-linear models and demonstrate why the theoretical reasoning for linear models is flawed. Finally, by introducing the natural rate of unemployment as a separate independent variable, I increase the explanatory power of the model. I allow the natural rate’s marginal effect on inflation to vary with time and suggest a theoretical framework that supports this final model. I conclude that non-linearity and therefore convexity between inflation and unemployment is the correct framework under any time period for Phillips Curve analysis and application
Thesis (BA) — Boston College, 2017
Submitted to: Boston College. College of Arts and Sciences
Discipline: Departmental Honors
Discipline: Economics

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Jiménez, Félix. "Contracts, Phillips Curve and Monetary Policy." Economía, 2015. http://repositorio.pucp.edu.pe/index/handle/123456789/117584.

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This paper shows how to obtain a short run aggregate supply curve when there are explicit orimplicit contracts. In the same way it is possible to obtain an expectation augmented Phillips curve. Then, a monetary policy is incorporated to the short run aggregate supply curve or to the Phillips curve in order to model the Central Bank reaction when the actual inflation deviates from the target inflation. Then a model with a Central Bank welfare lost function is developed in order to obtain an optimal monetary policy rule which modifies the synthetic version of the Taylor Rule. This model allows making short run comparative static analyses.
Este trabajo muestra que la existencia de contratos implícitos o explícitos, da lugar a desvíos de la producción respecto de su nivel de pleno empleo y, por lo tanto, a la configuración de una curva de oferta agregada de corto plazo con pendiente positiva. Estos desvíos pueden asimismo expresarse con una curva de Phillips. Definida la curva de Phillips, se integra una regla de política monetaria que permite modelar los efectos de la reacción del Banco Central ante los desvíos de la inflación respecto de la inflación meta. Se desarrolla un modelo con una función de pérdida del Banco Central para luego obtener una regla monetaria óptima que modifica la versión sintética de la Regla de Taylor. Este modelo permite realizar análisis de estática comparativa a corto plazo.

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Michálková, Simona. "Forecasting Ability of the Phillips Curve." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-203770.

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The aim of this paper is to investigate various versions of the Phillips curve and their inflation forecasting ability for Euro Area. We consider autoregressive distributed lag models and use two types of trend estimation -- successive (the trend is estimated before the remaining parameters are) and join, using exponential smoothing. The versions of the Phillips curve are evaluated by rolling and recursive window methods, various selection criteria for lag variables and different combination of the inflation indicators. To evaluate the forecasted values, we calculate the RMSE in three 7-year periods: 1993-1999 (run up Euro area), 2000-2006 (stable inflation period) and 2007-2013 (financial crisis). According to all our modifications, we find some models which achieve satisfying results in terms of the RMSE, albeit not for all forecasting periods. We notice that some models are satisfactory only in the stable period however not in the periods with low inflation and vice versa.

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Abreu, Daniel Sebastião. "Threshold effects in the wage Phillips curve." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/16573.

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Mestrado em Econometria Aplicada e Previsão
Neste trabalho, avaliamos a capacidade da curva de Phillips salarial Neo-Keynesiana (CPSNK) proposta por Galí (2011) para descrever a inflação dos salários nos EUA durante o período 1965-2018. De forma a estudar esta relação, empregamos um modelo de regressão de limiar que nos permite examinar a existência de não-linearidades. Os nossos resultados sugerem que a taxa de inflação salarial é bem descrita por um modelo de limiar com 3 regimes em que a variável de limiar é a taxa de desemprego. As estimativas para os parâmetros de limiar dividem a CPSNK em regimes consistentes com períodos de recessão profunda, de flutuações moderadas do ciclo económico e de crescimento prolongado. Encontramos evidência empírica consistente com a relação negativa entre a inflação salarial e a taxa de desemprego prevista pela CPSNK quando a taxa de desemprego está entre os limites de 5.69% e 7.63%. Quando a taxa de desemprego está fora deste intervalo, esta relação parece desaparecer. Para avaliar a robustez das nossas estimativas, incorporamos a possível endogeneidade dos regressores e da variável de limiar ao estimar o modelo de regressão limiar estrutural proposto por Kourtellos et al. (2016). Neste contexto, concluímos que os nossos resultados não são muito diferentes quando permitimos que os regressores sejam endógenos. Por outro lado, as estimativas dos coeficientes de limiar obtidas quando a variável de limiar é considerada como endógena implicam uma redução significativa do número de observações no segundo regime.
The main purpose of this work is to evaluate the ability of the New Keynesian wage Phillips curve (NKWPC), proposed by Galí (2011), to describe U.S. wage inflation dynamics over the 1965-2018 period. To study this relationship, a threshold regression model that allows assessing the existence of regime-switching nonlinearity is employed. Our results suggest that wage inflation dynamics are well described by a 3-regime threshold model where the best threshold variable is the current unemployment rate. The estimated thresholds split the NKWPC into regimes consistent with periods of deep recessions, moderate business cycle fluctuations and prolonged expansions. We find evidence that the negative relationship between wage inflation and unemployment implied by the NKWPC holds when unemployment is between the thresholds 5.69% and 7.63%; when unemployment is outside this band the relationship seems to break down. To assess the robustness of our estimates, we account for possible endogeneity of the regressors and the threshold variable by using the structural threshold model proposed by Kourtellos et al. (2016). In this setting, we conclude that our baseline results are not very sensitive to endogeneity affecting the regressors. In contrast, the threshold estimates obtained when the threshold variable is considered as endogenous yield a substantial reduction in the number of observations in the second regime.
info:eu-repo/semantics/publishedVersion

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Staines, David. "Stochastic equilibrium, the Phillips curve and Keynesian economics." Thesis, Cardiff University, 2019. http://orca.cf.ac.uk/118938/.

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I uncover serious problems with the benchmark New Keynesian Phillips curve linearized around its non-stochastic zero inflation steady state when the underlying model features a subset of prices that stay rigid over multiple periods, as in the popular Calvo model. I am able to demonstrate that the dynamics of approximations taken at the non-stochastic steady state are non-hyperbolic. This means that approximations taken at this point do not represent a valid description of the dynamics of the underlying model at any other point in the state space. This allows me to overturn results such as the 'Divine Coincidence' that equates welfare under price rigidity with the level prevailing under price dispersion. I introduce a dynamic stochastic concept of equilibrium that can be applied to New Keynesian models and offers a natural point to take approximations to analyze business cycle dynamics. It is methodologically interesting as it is a notion of general equilibrium that does not correspond to partial equilibrium. Keywords: Macroeconomics, Mathematical Economics, Random Dynamical Systems, General Equilibrium, Monetary Policy JEL Classification: C6, D5, E1, E3, E5 2010 Mathematics Subject Classification: 37Axx, 37Bxx, 37Cxx, 37Dxx, 37Gxx, 37Hxx.

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Bukhari, Syed Kalim Hyder. "Heterogeneity, marginal cost and New Keynesian Phillips Curve." Thesis, University of Leicester, 2015. http://hdl.handle.net/2381/35930.

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The purpose of the thesis is to introduce novel measure of real marginal cost in the New Keynesian Phillips Curve (NKPC) and compares its performance with conventional mea- sures such as output gap and labour share of income. Real marginal cost is derived from a flexible function whereas labour share is based on restrictive assumption of Cobb-Douglas technology. Dynamic correlations and results of NKPC indicate that real marginal cost is better than ad hoc measure of output gap and labour share. Given the heterogeneity in price setting behaviour across sectors, cost functions and NKPC are estimated for the agriculture, manufacturing and other sectors of Pakistan's economy. Real marginal cost is derived from static and dynamic cost functions. In the presence of adjustment costs, dynamic cost functions that are consistent and integrated with their static systems are required. Such dynamic translog cost functions are estimated after testing the theoretical properties and existence of long term relationships in the static functions. Cost attributes, marginal cost, total factor productivity, technological progress, demand and substitution elasticities are derived from static and dynamic functions. Three specifications of forward looking and hybrid form of the Phillips curves are estimated with real marginal cost, output gap and labour share. Results indicate that hybrid specifications perform better than the forward looking models in terms of goodness of fit and statistical significance. Further, comparison of Phillips curves estimated with real marginal cost, output gap and labour share indicate that real marginal cost performs better in explaining inflation dynamics in Pakistan. The results indicate that forward looking behaviour dominates and high level of nominal rigidities persists in Pakistan. Finally, hybrid form of the NKPC is estimated for a panel of sixteen Asian economies. With the consideration of heterogeneity and aggregation bias, the mean group, random coefficient and weighted average coefficients are derived from individual estimates. The unobserved time variant common factors cause cross correlation in the errors that may lead towards inconsistent estimates. Therefore, cross section averages of the explanatory and the dependent variables are augmented in hybrid specification to capture the effect of latent variables. Findings suggest that the discount factor is almost 0.94, the nominal rigidities are 33% and the weights of expected and past inflation are 66% and 33% respectively. Nominal rigidities of the Asian economies are lower than the estimates for US and Euro areas. The weights of expected and past inflation of the Asian economies are consistent with the US but lower than the estimates from the Euro areas.

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Boldrin, Nico. ""Three Essays on the New Keynesian Phillips Curve"." Doctoral thesis, Università degli studi di Padova, 2008. http://hdl.handle.net/11577/3425578.

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This PhD thesis is composed by three essays which tackle recent and controversial aspects of the New Keynesian Phillips curve subject. The first chapter presents a critical survey about the New Keynesian Phillips curve focusing on the so-called “divine coincidence” problem. The second chapter proposes an extension of the Blanchard and Galì New Keynesian Phillips curve and shows that this new formulation helps to explain inflation dynamics. The third chapter examines an extended version of the small-scale New Keynesian model a la Woodford (2003) to assess the role of oil price shocks in influencing inflation and unemployment volatility.

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Difs, Erik. "How does a financial crash affect the Phillips curve?" Thesis, Södertörns högskola, Nationalekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-37770.

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This study investigates if there is a significant Phillips curve correlation and if the tradeoff changed during the financial crisis of 2008 in countries such as Sweden, Austria and Belgium. It tries to find the evidence for a change in the tradeoff using a time series regression model. The study will first go through the different modifications that has been done to the Phillips curve and how the theory has evolved since it was originally theorized. After that the data that was used in the regression is examined and evaluated. The regression on the Phillips curve that follows is done in two ways, first on a Phillips curve with backward-looking inflation expectations and then a regression with anchored inflation expectations. The results are ambiguous since the regression only found significance for a tradeoff in the Phillips curve with the anchored inflation expectations and not for the backward-looking inflation expectations model which is the more conventional model to use. If we follow the model with the anchored expectations we can see that the tradeoff does exist and that it was strengthened by the financial crash of 2008 in Belgium and Austria. In Sweden however, the only results the regression provided is that a significant Phillips curve correlation is present in the economy.

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NETO, CARLOS DE CARVALHO MACEDO. "PHILLIPS CURVE IN US: THE CASE OF MISSING INFLATION." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2017. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=33563@1.

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O presente trabalho tem como principal objetivo contribuir para a desmistificação da dinâmica atual do deflator do consumo americano.Com esta finalidade, é avaliada a evolução temporal da Curva de Phillips americana, utilizando como referência a especificação apresentada por Yellen (2015). Os resultados encontrados são analisados e comparados com novas estimativas para diferentes variáveis de núcleo de inflação, expectativa de inflação e ociosidade do mercado de trabalho. A hipótese de não linearidade da Curva de Phillips também é testada. Por fim, um modelo alternativo ao de referência é sugerido e o deflator do consumo é desagregado para uma melhor compreensão. Concluímos que a Curva de Phillips continua válida e que não houve achatamento ao longo dos anos 2000. Ademais, não foi constatado suporte estatístico para a hipótese de não linearidade. Com isso, os principais responsáveis identificados pelo caso da inflação perdida são categorias que sofreram choques estruturais relacionados aos seus respectivos setores. E se esta avaliação estiver correta e os choques setoriais forem persistentes, o banco central americano possivelmente precisará implementar uma posição mais acomodatícia do que seria apropriado para atingir sua meta de longo prazo.
The purpose of this dissertation is to contribute to the demystification of the current dynamics of the inflation in United States.The Phillips Curve in the United States is evaluated since 1990s, using the model presented by Yellen (2015) as a reference. The results are analyzed and compared with new estimates for different core inflation variables, inflation expectations, and labor market slack. The nonlinearity hypothesis of the Phillips curve is also tested. Finally, an alternative to the model is suggested and the consumption price deflator is disaggregated.The results indicate that the Phillips Curve is still valid and that there was no flattening over the 2000s. In addition, no evidence of statistical significance was found for the nonlinearity hypothesis. Therefore, the main cause of the missed inflation are categories that suffered structural shocks related to their respective sectors. If this assessment is accurate and these sector-specific shocks continue, achieving the Federal Reserve s 2 percent inflation goal over the medium term may require a more accommodative stance of monetary policy than might otherwise be appropriate.

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Books on the topic "Phillips curve"

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Black, Angela J. The wage curve versus the Phillips curve. St. Andrews: St. Salvator's College, 1997.

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Bakhshi, Hasan. The Phillips curve under state-dependent pricing. London: Bank of England, 2004.

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Canada, Bank of. Estimates of the sticky-information Phillips curve for the United States, Canada, and the United Kingdom. Ottawa: Bank of Canada, 2002.

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Golosov, Mikhail. Menu costs and Phillips curves. Cambridge, MA: National Bureau of Economic Research, 2003.

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Sinclair, P. J. N. Has the Phillips curve been reborn?. Birmingham: University of Birmingham, Department of Economics, 1997.

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David, López-Salido J., and Banco de España, eds. A new phillips curve for Spain. Madrid: Banco de España, 2001.

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Sinclair, P. J. N. Has the Phillips curve been reborn? San Domenico: European University Institute. Robert Schuman Centre, 1997.

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Ball, Laurence M. Productivity growth and the Phillips Curve. Cambridge, MA: National Bureau of Economic Research, 2001.

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J, Gordon Robert. The Phillips curve, now and then. Cambridge, MA: National Bureau of Economic Research, 1990.

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Nason, James M. Identifying the new Keynesian Phillips curve. [Atlanta, Ga.]: Federal Reserve Bank of Atlanta, 2005.

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Book chapters on the topic "Phillips curve"

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Phelps, Edmund S. "Phillips Curve." In The New Palgrave Dictionary of Economics, 1–6. London: Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1057/978-1-349-95121-5_1366-1.

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Phelps, Edmund S. "Phillips Curve." In The New Palgrave Dictionary of Economics, 1–6. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/978-1-349-95121-5_1366-2.

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Phelps, Edmund S. "Phillips Curve." In The New Palgrave Dictionary of Economics, 10264–70. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_1366.

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Goodhart, Charles, and Manoj Pradhan. "The Phillips Curve." In The Great Demographic Reversal, 117–28. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-42657-6_8.

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Moloi, Tankiso, and Tshilidzi Marwala. "The Phillips Curve." In Advanced Information and Knowledge Processing, 53–62. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-42962-1_6.

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Forder, James. "The Phillips Curve." In Milton Friedman, 291–306. London: Palgrave Macmillan UK, 2019. http://dx.doi.org/10.1057/978-1-137-38784-4_16.

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Mayes, David G., and Matti Virén. "The Phillips Curve." In Asymmetry and Aggregation in the EU, 77–114. London: Palgrave Macmillan UK, 2011. http://dx.doi.org/10.1057/9780230304642_4.

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Ferri, Piero, and Edward Greenberg. "The Phillips Curve Debate." In Wages, Regime Switching, and Cycles, 81–96. Berlin, Heidelberg: Springer Berlin Heidelberg, 1992. http://dx.doi.org/10.1007/978-3-642-77241-2_6.

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Mátyás, Antal. "The Phillips Curve Doctrine." In History of Modern Non-Marxian Economics, 533–40. London: Macmillan Education UK, 1985. http://dx.doi.org/10.1007/978-1-349-18005-9_52.

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Fisher, Jonas D. M. "Phillips Curve (New Views)." In The New Palgrave Dictionary of Economics, 10270–76. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_2356.

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Conference papers on the topic "Phillips curve"

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Yao Zhu. "Phillips curve and inflation mechanism in China." In 2011 International Conference on Computer Science and Service System (CSSS). IEEE, 2011. http://dx.doi.org/10.1109/csss.2011.5974908.

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Virbickas, Ernestas. "Estimated New Keynesian Phillips Curve in Lithuania." In The 7th International Scientific Conference "Business and Management 2012". Vilnius, Lithuania: Vilnius Gediminas Technical University Publishing House Technika, 2012. http://dx.doi.org/10.3846/bm.2012.034.

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Xu, Yingying. "What affects inflation expectations? Evidence from the Sticky Information Phillips Curve." In 2016 Chinese Control and Decision Conference (CCDC). IEEE, 2016. http://dx.doi.org/10.1109/ccdc.2016.7530979.

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Marinič, Peter. "Impact of Wage Increase and Estimation of Phillips’ Curve in Czech Republic." In Hradec Economic Days 2022, edited by Jan Maci, Petra Maresova, Krzysztof Firlej, and Ivan Soukal. University of Hradec Kralove, 2022. http://dx.doi.org/10.36689/uhk/hed/2022-01-052.

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Yılmaz, Fatih, Onur Şeker, and Eren Pektaş. "Testing The Validity of The Phillips Curve for Turkey With Vector Autoregressive and Markov Switching Models on The Basis of Inflation and Unemployment." In International Conference on Eurasian Economies. Eurasian Economists Association, 2019. http://dx.doi.org/10.36880/c11.02349.

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In this study, we tested the validity of the Phillips Curve for Turkey. We used Markov Switching Model for examine the relationship between two variables in different regime periods, Engle Granger Causality Test for detect the causality between two variables, Johansen Cointegration Test for observe the long term equilibrium relationship and The Impulse Response Analysis and Variance Decomposition Analysis for investigate the explanatory effect of two variables on each other. As a result of the analysis, it was determined that Inflation and Unemployment act together in the short and long term. Between 2010M01 and 2017M10, it was determined that the Phillips Curve is ineffective for Turkey.

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Acaroğlu, Doğaç, and Kenan Terzioğlu. "Inflation and Marginal Costs in Open Economies: The New Keynesian Hybrid Phillips Curve." In International Conference on Eurasian Economies. Eurasian Economists Association, 2021. http://dx.doi.org/10.36880/c13.02566.

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The inclusion of the inflation rate in wage determination affects the behavior of economic actors and also positions the expected inflation as one of the main factors in determining inflation. Changes in currency parities in developing countries, which make their production dependent on imports, affect costs and prices. Moreover, changes in labor market structures resulting from free capital flows affect employment and the inflation phenomenon. This paper analyzes the current inflation, expected inflation, and output gap relations with the fuzzy linear regression method in the context of the Turkish economy, which has inflation and effective external dependency. Based on the results obtained using marginal cost instead of the output gap, policy recommendations are provided. The scope of this paper comprises the New Keynesian Hybrid Phillips curve that includes external factors. The relationship between inflation and relevant variables is statistically significant and positive, proving the fuzzy linear regression results as promising. To obtain economic stability and policy precautions, we must examine whether the use of tight monetary policies for coping with inflation leads to unemployment and whether expansionist monetary policies lead to inflation.

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Jiang, Mingyang, Mian Wang, Xinkai Zhuo, and Junyi Zou. "Revealing the Wage Phillips Curve on the Relationship Between Wage Growth and Unemployment Rate." In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021). Paris, France: Atlantis Press, 2021. http://dx.doi.org/10.2991/assehr.k.211209.466.

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Chiu, Pinhsuan. "The Robustness Check of Phillips Curve - Evidence from U.S. Economy During the COVID-19 Pandemic." In 3rd International Conference on Economic Management and Big Data Application. WORLD SCIENTIFIC, 2024. http://dx.doi.org/10.1142/9789811270277_0066.

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Jablanovic, Vesna. "A Nonlinear Inflation Growth Model." In 8th International Scientific Conference ERAZ - Knowledge Based Sustainable Development. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2022. http://dx.doi.org/10.31410/eraz.2022.31.

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In the short run, the fall in aggregate demand leads to falling output and price level and rising unemployment. In this sense, it is important to use the Phillips curve, i.e., the curve that shows the short-run relationship between inflation and unemployment. This paper creates a relatively simple chaotic inflation rate growth model. Also, this paper examines the inflation rate growth stability in the period 2000-2021 in France, and confirms the existence of the convergent fluctuations of the inflation rate in France in the observed period.

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Novotna, Veronika. "The Impact of the Inflation and Unemployment Values from the Previous Period on the Phillips Curve." In The 7th International Scientific Conference "Business and Management 2012". Vilnius, Lithuania: Vilnius Gediminas Technical University Publishing House Technika, 2012. http://dx.doi.org/10.3846/bm.2012.021.

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Reports on the topic "Phillips curve"

1

Stock, James, and Mark Watson. Phillips Curve Inflation Forecasts. Cambridge, MA: National Bureau of Economic Research, September 2008. http://dx.doi.org/10.3386/w14322.

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Kocherlakota, Narayana. The Concave Phillips Curve. Cambridge, MA: National Bureau of Economic Research, May 2024. http://dx.doi.org/10.3386/w32528.

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Kurozumi, Takushi, Ryohei Oishi, and Willem Van Zandweghe. Sticky Information Versus Sticky Prices Revisited: A Bayesian VAR-GMM Approach. Federal Reserve Bank of Cleveland, November 2022. http://dx.doi.org/10.26509/frbc-wp-202234.

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Several Phillips curves based on sticky information and sticky prices are estimated and compared using Bayesian VAR-GMM. This method derives expectations in each Phillips curve from a VAR and estimates the Phillips curve parameters and the VAR coefficients simultaneously. Quasi-marginal likelihood-based model comparison selects a dual stickiness Phillips curve in which, each period, some prices remain unchanged, consistent with micro evidence. Moreover, sticky information is a more plausible source of inflation inertia in the Phillips curve than other sources proposed in previous studies. Sticky information, sticky prices, and unchanged prices in each period are all needed to better describe inflation dynamics.

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Ashley, Richard, and Randal J. Verbrugge. The Intermittent Phillips Curve: Finding a Stable (But Persistence-Dependent) Phillips Curve Model Specification. Federal Reserve Bank of Cleveland, February 2023. http://dx.doi.org/10.26509/frbc-wp-201909r2.

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We establish that the Phillips curve is persistence-dependent: inflation responds differently to persistent versus moderately persistent (or versus transient) fluctuations in the unemployment rate gap. This persistence-dependent relationship appears to align with business-cycle stages and is thus consistent with existing theory. Previous work fails to model this dependence, thereby finding numerous "inflation puzzles" – e.g., missing inflation/disinflation – noted in the literature. Our specification eliminates these puzzles; for example, the Phillips curve has not weakened, nor was inflation "stubbornly low" in 2019. The model's coefficients are stable, and it provides accurate conditional recursive forecasts through the Great Recession. There are important monetary policy implications.

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Farmer, Roger E. A., and Giovanni Nicolò. Keynesian Economics without the Phillips Curve. Cambridge, MA: National Bureau of Economic Research, September 2017. http://dx.doi.org/10.3386/w23837.

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Ball, Laurence, and Robert Moffitt. Productivity Growth and the Phillips Curve. Cambridge, MA: National Bureau of Economic Research, August 2001. http://dx.doi.org/10.3386/w8421.

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Del Negro, Marco, Michele Lenza, Giorgio Primiceri, and Andrea Tambalotti. What’s up with the Phillips Curve? Cambridge, MA: National Bureau of Economic Research, April 2020. http://dx.doi.org/10.3386/w27003.

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Gordon, Robert. The Phillips Curve Now and Then. Cambridge, MA: National Bureau of Economic Research, June 1990. http://dx.doi.org/10.3386/w3393.

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Ball, Laurence, and Sandeep Mazumder. A Phillips Curve for the Euro Area. Cambridge, MA: National Bureau of Economic Research, November 2019. http://dx.doi.org/10.3386/w26450.

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Galí, Jordi. The Return of the Wage Phillips Curve. Cambridge, MA: National Bureau of Economic Research, February 2010. http://dx.doi.org/10.3386/w15758.

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