The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy

John Enrico DiNardo and M.P. Moore

Working Papers from California Irvine - School of Social Sciences

Abstract: Expanding of an approach suggested by Ashenfelter (1984), we extend the Phillips curve to an open economy and exploit panel data to estimate the textbook "expectations augmented" Phillips curve with a market-based and observable measure of inflation expectations. We develop this measure using assumptions common in economic analysis of open economies.

Keywords: INFLATION; UNEMPLOYMENT; MACROECONOMICS (search for similar items in EconPapers)
JEL-codes: E31 F41 J64 (search for similar items in EconPapers)
Date: 1999
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Working Paper: The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy (1999)
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