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

Bill Russell

doi:10.1080/13504851.2016.1161710

‘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 language	English
Pages (from-to)	58-60
Number of pages	3
Journal	Applied Economics Letters
Volume	24
Issue number	1
Early online date	21 Mar 2016
DOIs	https://doi.org/10.1080/13504851.2016.1161710
Publication status	Published - 2 Jan 2017

Keywords

Phillips curve
inflation
stationary
integrated
macroeconomics

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10.1080/13504851.2016.1161710

Full_Russell_Modern_PC_Integrated_Inflation_21_Feb_2016_Minor_corrections (1)
This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economic Letters on 21 Mar 2016., available online: http://www.tandfonline.com/10.1080/13504851.2016.1161710
Accepted author manuscript, 65.1 KBLicence: CC BY-NC-ND

Cite this

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

Abstract

Keywords

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