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Empirical Phillips Curves in OECD Countries: Has There Been A Common Breakdown?

Matthew Doyle ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Recent work on U.S. data calls into question the ability of simple Phillips curve models to forecast inflation. This paper asks whether there is similar evidence of a breakdown in the forecasting ability of Phillips curve models in other OECD countries. The results suggests that the ability of a Phillips curve to out-forecast simpler models has deteriorated in many OECD countries. The evidence is less clear as to whether this breakdown can be attributed to structural breaks in the parameters of the Phillips curve

Keywords: Phillips curve; structural breaks; forecast breakdown (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Date: 2006-09-25
New Economics Papers: this item is included in nep-cba, nep-for, nep-mac and nep-mon
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Citations: View citations in EconPapers (3) Track citations by RSS feed

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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:12684

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