La courbe de Phillips est-elle pertinente pour comprendre le lien entre inflation et chômage ?

Christophe Blot

Revue d'économie financière, 2024, vol. N° 153, issue 1, 165-178

Abstract: Although the Phillips curve plays an important role in macroeconomic models, empirical studies have often shown that the link between inflation and unemployment is actually weak or even non-existent. This article shows that the Phillips curve remains a relevant framework for analyzing inflation and understanding the inflation-unemployment relationship. The instability of the estimations results both from the difficulties of measuring labor market tensions and inflation expectations, and from the curve's non-linear character. In addition, changes in monetary policy strategy since the 1980s and the globalization of economies may affect the correlation between inflation and unemployment. JEL classification: E31, E32, E37.

JEL-codes: E31 E32 E37 (search for similar items in EconPapers)
Date: 2024
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