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Les neuf vies de la courbe de Phillips américaine : réincarnations ou résilience ?

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  • Fauvel, Yvon

    (Département de sciences économiques)

  • Guay, Alain

    (Département de sciences économiques)

  • Paquet, Alain

    (Département de sciences économiques)

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    Abstract

    In the 90s, the behaviour of US inflation has been a puzzle for many analysts; for eight years, the unemployment rate remained below 6% without giving rise to a significant acceleration of prices and wages. Once again, both the theoretical and empirical relevance of the Phillips curve has been questioned. This paper reassesses explanations proposed by economists to solve this puzzle, as well as the issues pertaining to the debates about the Phillips curve. Recent theoretical and empirical contributions in the literature on the Phillips curve are also reviewed. Au cours des années quatre-vingt-dix, le comportement de l’inflation aux États-Unis a constitué une énigme pour beaucoup d’observateurs ; le taux de chômage américain s’est maintenu pendant huit ans sous le seuil de 6 % sans que cela donne lieu à une accélération notable de la croissance des prix et des salaires. À nouveau, la pertinence théorique et empirique de la courbe de Phillips a été contestée. Cet article fait état des explications avancées par les économistes pour élucider cette énigme ainsi que des débats relatifs à une remise en question de la courbe de Phillips. Ce faisant, nous présentons une revue des contributions théoriques et empiriques récentes à la littérature sur la courbe de Phillips.

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    Bibliographic Info

    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 81 (2005)
    Issue (Month): 4 (décembre)
    Pages: 665-691

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    Handle: RePEc:ris:actuec:v:81:y:2005:i:4:p:665-691

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