'Modern' Phillips Curves and the Implications For The Statistical Process of Inflation
Authors registered in the RePEc Author Service: Bill Russell ()
No 2015-84, SIRE Discussion Papers from Scottish Institute for Research in Economics (SIRE)
'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)
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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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Persistent link: https://EconPapers.repec.org/RePEc:edn:sirdps:692
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