Silvia Merler, (2017), “Has the Phillips curve disappeared?”, Bruegel, 21 Νοεμβρίου
The Economist argues that the Phillips curve may be broken for good, showing a chart of average inflation and cyclical unemployment for advanced economies, which has flattened over time (Figure 1). The Economist also refers to a recent paper by three economists at the Philadelphia Fed, arguing that the Phillips curve is not very useful at forecasting inflation: their Phillips curve models’ forecasts tend to be unconditionally inferior to those from a univariate forecasting model.
Σχετικές Αναρτήσεις
- Edmund S. Phelps, (2017), «Nothing Natural About the Natural Rate of Unemployment», Project Syndicate, 2 Νοεμβρίου
- Eurostat/September 2017,Euro area unemployment at 8.9%-EU28 at 7.5%/31 Οκτωβρίου 2017