‘MODERN’ PHILLIPS CURVES AND THE IMPLICATIONS FOR THE STATISTICAL PROCESS OF INFLATION
Bill Russell ()
No 289, Dundee Discussion Papers in Economics from Economic Studies, University of Dundee
‘Modern’ theories of the Phillips curve imply that inflation is an integrated, or near integrated’ process. This paper explains this implication and why these ‘modern’ theories are logically inconsistent with what is commonly known about the statistical process of inflation.
Keywords: Phillips curve; inflation; stationary; integrated; macroeconomics (search for similar items in EconPapers)
JEL-codes: C10 C20 E31 (search for similar items in EconPapers)
Pages: 6 pages
New Economics Papers: this item is included in nep-mac
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Journal Article: ‘Modern’ Phillips curves and the implications for the statistical process of inflation (2017)
Working Paper: 'Modern' Phillips Curves and the Implications For The Statistical Process of Inflation (2015)
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