Magazine article from our research archive:
|
|
A THEORY-BASED, STATE-DEPENDENT PHILLIPS CURVE AND ITS ESTIMATION
- Article from:
-
Economic Inquiry
- Article date:
-
January 1, 2005
- Author:
-
;
;
|
Copyright informationCopyright Western Economic Association Jan 2005. Provided by ProQuest LLC. (Hide copyright information)
|
To explain the existing empirical irregularity about the slope of a Phillips curve, this article provides a model of imperfect competition to show that the slope of a Phillips curve is shock-dependent. We empirically apply a state-space, Markov-switching model to examine the impact of inflation surprise on the unemployment gap, resulting in the state-dependent Phillips curve fitting quite well. Our empirical evidence indicates that an unexpected monetary expansion does produce effects in reducing unemployment rates and that supply shocks should not be ignored in estimating the Phillips curve because they dominate demand shocks in several nonoil shock periods. (JEL C51, E24, E52)
...
Related newspaper, magazine, and journal articles:
|
The Phillips curve is alive and well.
New England Economic Review;
March 1, 1995 ;
700+ words
......conference, the Phillips curve has been an extremely...at least, the Phillips curve is as structural...levied against the Phillips curve and many macroeconometric...stability of the Phillips curve, and calls into...applies to the Phillips curve. I. A Brief ...
|
|
Demise of long-held theory on inflation, unemployment
The Journal Record;
March 13, 2000 ;
700+ words
......above its natural rate. Today, however, the Phillips curve is missing...estimate of the natural rate -- yet inflation...Where was the Phillips curve? There was...told, the Phillips curve has not worked...relatively stable natural rate of ...
|
|
Phillips curve
Dictionary of the Social Sciences;
434 words
...Phillips curve Originally, the Phillips curve traced the negative...of observation. The Phillips curve remains controversial...economy returns to the natural rate of unemployment, which...run, therefore, the Phillips curve is vertical at...modification of the ...
|
|
Job uncertainty, unemployment, and inflation in the United States.
Finance & Development;
December 1, 1997 ;
700+ words
......explain why the Phillips curve has been...United States. Natural rate of unemployment...standard Phillips curve, the rate...known as the natural rate of unemployment...reversing the Phillips curve to yield the natural rate implied by...
|
|
Is the Phillips Curve Stable for Malaysia? New Empirical Evidence
Malaysian Journal of Economic Studies;
December 1, 2007 ;
700+ words
......investigate the stability of trade-off Phillips curve in Malaysia. The sample covers annual...2005. This study finds that trade-off Phillips curve exists in Malaysia for both short run...Cointegration, inflation, unemployment, Phillips curve JEL Classification: C01, E24, E31 1...
|
|
ask Dr. Dollar
Dollars & Sense;
September 1, 2006 ;
700+ words
......In place of the Phillips curve, many economists began to posit a "natural rate of unemployment...breakdown of the Phillips curve in the 1970s and...disappearance" of the natural rate of unemployment...suggest that the "natural rate" of ...
|
|
A TIME-VARYING VOLATILITY APPROACH TO MODELING THE PHILLIPS CURVE: A...
Journal of Economics and Finance;
July 1, 2004 ;
700+ words
...Abstract This research examines the Phillips curve price adjustment mechanism allowing...inclusion of inflation variability in the Phillips curve model results in a higher weight being...Debate concerning the existence of a Phillips curve has increased in recent years since...
|
|
long-run Phillips curve
A Dictionary of Economics;
125 words
...long-run Phillips curve A curve showing the long-run relation...that the appropriate short-term Phillips curve is that augmented for inflation...that at each point on the long-run Phillips curve actual and expected inflation are...
|
|
The Eisner puzzle, the unemployment threshold and the range of...
International Advances in Economic Research;
May 1, 2008 ;
700+ words
......when the short-run Phillips curve (SRPC) is flatter...Inflation. Unemployment Natural rate JEL E00 Introduction...implied by non-natural rate approaches, such...doubts about the natural rate concept. For example...Hall believed the natural rate hypothesis ...
|
 "The Economist (US)")
|
Curve ball; Economics focus.
The Economist (US);
September 30, 2006 ;
700+ words
......1960s concept, the Phillips curve. The Phillips curve was named after...HSBC, says, The Phillips curve relationship did...the long run, the Phillips curve became vertical. So the Phillips curve fell out of favour...in effect, the natural ...
|
|
Natural rate of inflation in Australia: an eclectic approach.
Atlantic Economic Journal;
September 1, 1996 ;
551 words
......when unemployment is at the natural rate is indeterminate. The concept of a natural rate of inflation (NRI) is of...determination of the NRI and derived Phillips curves at a disaggregated...an aggregate horizontal Phillips curve for the U.S., reflecting...2] estimated a ...
|
|
|
Restructuring, the NAIRU, and the Phillips curve....
New England Economic Review;
September 1, 1994 ;
700+ words
......conclusion by examining macro data in a Phillips curve framework. Neither the approach nor...and early 1980s instability in the Phillips curve was used as evidence for an increase...However, this study's examination of the Phillips curve provides little support for the conclusion...
|
|
The Econometrics of Price Determination, thirty-five years later.
Journal of Money, Credit & Banking;
February 1, 2007 ;
700+ words
......thinking of the time on the Phillips curve, and to use it to review...Econometric Testing of the Natural Rate Hypothesis, which set out...econometric work on the Phillips curve that is discussed in the...price determination and the Phillips curve in 1970 when the ...
|
See all results.
Or, try our
Advanced Search.
|