Is the Phillips Curve Still Alive?

Brian Reinbold and Yi Wen

Review, 2020, vol. 102, issue 2, 144 pages

Abstract: A.W. Phillips's discovery that inflation is negatively correlated with unemployment served as a heuristic model for conducting monetary policy; but the flattening of the Phillips curve post-1970 has divided debate on this empirical relation into two camps: "The Phillips curve is alive and well," and "The Phillips curve is dead." However, this dichotomy oversimplifies the issue.

JEL-codes: C10 E24 E31 E52 E58 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:88587

DOI: 10.20955/r.102.121-44

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