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5 posts on "Phillips Curve"
September 18, 2020

What’s Up with the Phillips Curve?

William Chen, Marco Del Negro, Michele Lenza, Giorgio Primiceri, and Andrea Tambalotti

U.S. inflation used to rise during economic booms, as businesses charged higher prices to cope with increases in wages and other costs. When the economy cooled and joblessness rose, inflation declined. This pattern changed around 1990. Since then, U.S. inflation has been remarkably stable, even though economic activity and unemployment have continued to fluctuate. For example, during the Great Recession unemployment reached 10 percent, but inflation barely dipped below 1 percent. More recently, even with unemployment as low as 3.5 percent, inflation remained stuck under 2 percent. What explains the emergence of this disconnect between inflation and unemployment? This is the question we address in “What’s Up with the Phillips Curve?,” published recently in Brookings Papers on Economic Activity.

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Posted at 7:00 am in DSGE, Inflation, Macroecon, Monetary Policy, Phillips Curve, Unemployment | Permalink | Comments (3)
September 23, 2015

How Much Do Inflation Expectations Matter for Inflation Dynamics?

Argia M. Sbordone and Sara Shahanaghi

Inflation dynamics are often described by some form of the Phillips curve.

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Posted at 7:00 am in DSGE, Expectations, Inflation, Macroecon, Monetary Policy, Phillips Curve, Wages | Permalink | Comments (0)
August 26, 2015

Mind the Gap: Assessing Labor Market Slack

Joseph Tracy, Robert Rich, Samuel Kapon, and Ellen Fu

Indicators of labor market slack enable economists to judge pressures on wages and prices.

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Posted at 7:00 am in Labor Economics, Labor Market, Macroecon, Phillips Curve, Wages | Permalink | Comments (2)
July 14, 2014

High Unemployment and Disinflation in the Euro Area Periphery Countries

http://www.typepad.com/site/blogs/6a01348793456c970c013487934a93970c/post/6a01348793456c970c01a3fd0719b1970b/edit?saved=e#

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Posted at 7:00 am in Euro Area, Inflation, International Economics, Macroecon, Phillips Curve, Unemployment, Wages | Permalink | Comments (0)
June 5, 2013

Drilling Down into Core Inflation: Goods versus Services

M. Henry Linder, Richard Peach, and Robert W. Rich Among the measures of core inflation used to monitor the inflation outlook, the series excluding food and energy prices is probably the best known and most closely followed by policymakers and the public. While the conventional “ex food and energy” measure is a composite of the price changes […]

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Posted at 7:00 am in Forecasting, Macroecon, Monetary Policy, Phillips Curve, Unemployment | Permalink | Comments (3)

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