Economics, Econometrics and Finance
5 years ago

Global study finds Phillips curve still relevant, impacting inflation rates.

RePEc: Research Papers in Economics
Is the Phillips curve dead? International evidence
Annika Alexius, Michael Lundholm, Linnea Nielsen

Paper Summary

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The study looked at whether the relationship between job market pressure and inflation is still strong in different countries. They used a statistical method to analyze data from 11 OECD countries, including the US. The results showed that in 2018, changes in unemployment had a big impact on inflation, suggesting that the Phillips curve is still relevant. The relationship between inflation and unemployment actually got stronger in most countries, contrary to what was previously thought.