Phillips curve
From Phillips curve to wage curve
... of Phillips (1958). Phillips started from the proposition that the price of any product changes in response to excess ...famous Phillips curve, which relates wage growth to the level of ...
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A Scientific Inquiry on the Estimation of the Phillips Curve in the Baltic Region
... the Phillips curve debate by estimating new Keynesian Phillips curve (NKPC) in three European Union (EU) member countries situated in the Baltic region, namely, Estonia, Latvia and Lithuania, ...
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The South Asian Phillips Curve: Assessing the Gordon Triangle
... Performa’s for eastern and western economies. It has been evidenced that on aggregate there is no significant relationship between Unemployment and Inflation; however there are the countries, for them the association ...
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Estimates of the US Phillips curve with the general to specific method
... In this paper we have used the LSE and Hendry GETS approach to specify and estimate the US NKPC. Some new features of our approach, among which the most important ones are a distinction between the long run theory based ...
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The Modified Phillips Curve as a Possible Answer to Japanese Deflation
... AD curve, which has an inherent analytical bias supporting the role of monetary ...the Phillips curve, a feature contrasting with Akerlof’s et ...the Phillips curve, which specifies the ...
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A “Local” Model of the Firm: Sticky prices and the Phillips Curve
... resulting Phillips curve is most compelling if 75% of the final adjustment in price is absorbed into price and 25% of the final adjustment in price is absorbed by ...
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Convex Phillips Curve Explaining Openness and Inflation Nexus
... non-linear Phillips curve. Phillips curve explains the inverse relationship between unemployment and infla- tion; however, the open economy macroeconomic models usually propose that the slope ...
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An Efficiency Wage—Imperfect Information Model of the Phillips Curve
... wage-wage Phillips curve. However, Phillips curves are generally estimated by regressing either wage infla- tion or price inflation on unemployment and lagged price ...wage-price Phillips ...
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Has the wage Phillips curve changed in the euro area?
... that in the euro area, domestic factors played an important role besides global disinfla- tionary forces. Second, in several euro area countries, labour markets have gone through some modification following the ...
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Microfoundations of Inflation Persistence in the New Keynesian Phillips Curve
... the Phillips curve is derived from a dynamic stochastic general equilibrium (DSGE) model, and relates current inflation to inflation ex- pectations, lagged inflation, and real marginal cost or output ...new ...
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Keynes’s employment function and the gratuitous Phillips curve disaster
... Keynes had a lot of plausible things to say about unemployment and its causes. His ‘mercurial mind’ (Skidelsky, 2009, p. 57), though, relied on intuition which means in a more critical vein that he held many opinions but ...
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Policy Regimes and the Shape of the Phillips Curve in Australia
... the curve outwards and reduces ...the Phillips curve is almost vertical at high inflation ...the Phillips curve becomes flatter at low inflation, and depends heavily on the volatility ...
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Costly Information, Planning Complementarity and the New Keynesian Phillips Curve
... state more often than about the aggregate state and hence prices will incorporate new information about the idiosyncratic at shorter intervals than about the aggregate state. This is because of the beauty contest nature ...
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The Chinese Phillips curve – inflation dynamics in the presence of structural change
... It is important to carefully choose the correct Phillips curve specification which is most suitable to act as the “benchmark” model for Chinese inflation. This decision needs to be economically and ...
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Inflation And Unemployment Nexus In Nigeria: Another Test of the Phillips Curve
... This research work examines the inflation and unemployment nexus in Nigeria by testing if the original Phillips curve proposition holds for Nigeria. The study adopted a distributed lag model with data ...
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A New Keynesian Phillips curve for Tunisia : Estimation and analysis of sensitivity
... New-Keynesian Phillips curve (NKPC) is gaining in popularity, due to its robustness to the Lucas ...this curve are insensitive to changes in policy ...this curve was supported by as- sumptions ...
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Unemployment and Inflation: Evidence of a Nonlinear Phillips Curve in the Eurozone
... the Phillips curve, to our knowledge no study has established a threshold for which the relationship between inflation and unemployment switches from negative to positive in the ...the Phillips ...
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Firm Specific Capital and the New Keynesian Phillips Curve
... Real rigidities are the greatest if we assume, as in the model with “specific factor markets” in Woodford (2003, chap. 3), that the capi- tal stock of each firm is exogenously given, and hence never affected by differential ...
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Pursuing the Phillips curve in an African monarchy: The Swazi case
... Philips curve fit for the Kingdom of Swaziland as a low middle income Sub-Saharan Africa monarchy using data collected between 1991 and ...of Phillips curve ...Philips curve whereas we find ...
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Autoregression Based Estimation of the New Keynesian Phillips Curve
... We propose an estimation method of the new Keynesian Phillips curve (NKPC) based on a univariate noncausal autoregressive model for the inflation rate. By construction, our approach avoids a number of ...
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