Flattening of the Phillips curve under low trend inflation

Toyoichiro Shirota

Economics Letters, 2015, vol. 132, issue C, 87-90

Abstract: This study indicates why the Phillips curve is flattened in an environment of low trend inflation. The key is the curvature of the demand curve.

Keywords: Sticky prices; Trend inflation; Kinked demand curve (search for similar items in EconPapers)
JEL-codes: E3 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:132:y:2015:i:c:p:87-90

DOI: 10.1016/j.econlet.2015.04.027

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