Consequently, the Phillips Curve, a longtime guide used by the Fed in setting monetary policy, has effectively been laid to rest. In addition to the shift on inflation, the Fed announced that its ...

Soon after Mr. Friedman hypothesized a shifting Phillips curve, his prediction came to pass, as spending on the Vietnam War stoked inflationary pressures.

Surely, one should start with a serious dynamic Phillips curve, as most macro literature does. Maybe the Phillips curve is flexible up but sticky down, and the natural rate shifts around.

To reflect that reality, Phelps proposed a more complicated model he called the “expectations-augmented Phillips curve,” which is still widely employed in economics.

In contrast, the most recent shifts in the Beveridge curve appear driven by changes in the eagerness of workers to switch jobs. Finally, we argue that, while the Beveridge curve is a useful tool for ...

I agree with Neel Kashkari about “How the Unfettered Fed Flattened the Phillips Curve” (op-ed, May 22). Formal unemployment has become a poor measure of full employment. High levels of ...

Shifting gap coefficients in Phillips curve regressions Numerous studies have examined the usefulness of the Phillips curve for explaining inflation behavior (see Lansing 2019 for a review). A typical ...

Post-pandemic Phillips curve estimates indicate some steepening in the UK, Spain, Italy and the euro area as a whole, but at magnitudes that are too small to explain the entire surge in inflation in ...

Bank of Portugal research examines the downward shift of the Phillips curve, and ways of inducing higher inflation.

Improved anchoring of expected inflation is an alternative hypothesis that can account for the shifting correlation pattern between inflation and stock prices. This is because improved anchoring leads ...

We study the global inflation surge during the pandemic recovery and the implications for aggregate and sectoral Phillips curves. We provide evidence that Phillips curves shifted up and steepened ...

Several recent articles have examined what seems to be a breakdown in the Phillips curve. Greg Ip explains: “Standard models of the economy are built on a simple relationship: When unemployment ...