@techreport{e2c9e524243e431bb3e8e7d1d835389a,
title = "Dundee Discussion Papers in Economics 289: 'Modern' phillips curves and the implications for the statistical process of inflation",
abstract = "{\textquoteleft}Modern{\textquoteright} theories of the Phillips curve imply that inflation is an integrated, or near integrated{\textquoteright} process. This paper explains this implication and why these {\textquoteleft}modern{\textquoteright} theories are logically inconsistent with what is commonly known about the statistical process of inflation.",
keywords = "Philips curve, inflation, stationary, integrated, macroeconomics",
author = "Bill Russell",
year = "2015",
month = jun,
language = "English",
series = "Dundee Discussion Papers in Economics",
publisher = "University of Dundee",
number = "289",
pages = "1--6",
type = "WorkingPaper",
institution = "University of Dundee",
}