The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy

John DiNardo and M.P. Moore

Working Papers from California Irvine - School of Social Sciences

Abstract: Expanding of an approach suggested by Ashenfelter (1984), we extend the Phillips curve to an open economy and exploit panel data to estimate the textbook "expectations augmented" Phillips curve with a market-based and observable measure of inflation expectations. We develop this measure using assumptions common in economic analysis of open economies.

Keywords: INFLATION; UNEMPLOYMENT; MACROECONOMICS (search for similar items in EconPapers)
JEL-codes: E31 F41 J64 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1999
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Citations: View citations in EconPapers (23)

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Working Paper: The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:calirv:99-00-04

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