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‘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

Abstract: ‘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
Date: 2015-06
New Economics Papers: this item is included in nep-mac
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Related works:
Journal Article: ‘Modern’ Phillips curves and the implications for the statistical process of inflation (2017) Downloads
Working Paper: 'Modern' Phillips Curves and the Implications For The Statistical Process of Inflation (2015) Downloads
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