Without getting too technical, the first main component of Nordhaus’s model was the Phillips curve, the Keynesian tradeoff between unemployment and inflation. Nordhaus posited two versions of the ...

I structure my comment in the order of the paper. Section 1 reviews the New Keynesian Phillips Curve (NKPC). The theory motivates a few changes to the empirical exercise assessing non-linearity in the ...

Most of the other functions are regulatory. The choice between the twin mandates are meant to be expressed in the Phillips curve. The Fed and the economic establishment relies on the Phillips ...

This provides some evidence of a flattening of the Phillips curve in Brazil, a trend previously shown by recent studies for other countries. New Keynesian Phillips curve; inflation; unobserved ...

Thus, fiscal policy may be rendered ineffective due to this. Supply-side economics has also shown contrast to Keynesian beliefs. During the stagflation in the 1970s, the Phillips curve failed, ...

Jason Furman errs in relying on a supposed Phillips curve trade-off between inflation and unemployment in his op-ed “The Fed Can Take Its Time Taming Inflation” (June 17). A plot of inflation ...

Yet Keynesian economists (meaning the vast majority ... and by extension “inflation,” which is the Phillips Curve in action. The latter laughably posits that too much economic growth borne ...

Milton Friedman and others wishing to reassert micro economic theory of competitive equilibrium over macroeconomics seized upon the breakdown of the Phillips Curve to discredit Keynesian economics.

We believe that the effects of Covid on the economy and financial markets are diminishing, and we believe that the Phillips curve is supporting this. Will history repeat in the second half of this ...