‘Modern’ Phillips curves and the implications for the statistical process of inflation

Bill Russell (Lead / Corresponding author)

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    Abstract

    ‘Modern’ theories of the Phillips curve imply that inflation is an integrated, or near integrated’ process. This article explains this implication and why these ‘modern’ theories are logically inconsistent with what is commonly known about the statistical process of inflation.
    Original languageEnglish
    Pages (from-to)58-60
    Number of pages3
    JournalApplied Economics Letters
    Volume24
    Issue number1
    Early online date21 Mar 2016
    DOIs
    Publication statusPublished - 2 Jan 2017

    Keywords

    • Phillips curve
    • inflation
    • stationary
    • integrated
    • macroeconomics

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