'Modern' phillips curves and the implications for the statistical process of inflation

    Research output: Working paper

    Abstract

    ‘Modern’ theories of the Phillips curve imply that inflation is an integrated, or near integrated’ process. This paper explains this implication and why these ‘modern’ theories are logically inconsistent with what is commonly known about the statistical process of inflation.
    Original languageEnglish
    Place of PublicationUnited Kingdom
    PublisherUniversity of Dundee
    Pages1-6
    Number of pages6
    Publication statusPublished - Jun 2015

    Publication series

    NameDundee Discussion Papers in Economics
    No.289
    ISSN (Electronic)4173-236X

    Keywords

    • Philips curve
    • inflation
    • stationary
    • integrated
    • macroeconomics

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