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The Case of the Reappearing Phillips Curve: A Discussion of Recent Findings

Author

Listed:
  • Asha Bharadwaj
  • Maximiliano Dvorkin

Abstract

The Phillips curve seems to have flattened over time. In this article, we use a simple New Keynesian model to analyze potential pitfalls in the estimation of the slope of the structural Phillips curve.

Suggested Citation

  • Asha Bharadwaj & Maximiliano Dvorkin, 2020. "The Case of the Reappearing Phillips Curve: A Discussion of Recent Findings," Review, Federal Reserve Bank of St. Louis, vol. 102(3), pages 313-337, July.
  • Handle: RePEc:fip:fedlrv:88595
    DOI: 10.20955/r.102.313-37
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    References listed on IDEAS

    as
    1. John M. Roberts, 2006. "Monetary Policy and Inflation Dynamics," International Journal of Central Banking, International Journal of Central Banking, vol. 2(3), September.
    2. James H. Stock & Mark W. Watson, 2007. "Why Has U.S. Inflation Become Harder to Forecast?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 3-33, February.
    3. Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-984, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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