That the low unemployment rate has not been accompanied by high inflation, and higher interest rates, has caused many to question whether the Phillips curve still works. The 20% + dividend yields from ...

Although the labor market has steadily strengthened, wage growth has remained slow in recent years. This raises the question of whether the wage Phillips curve—the traditional relationship between ...

During the 1970s and early 1980s, rises in inflation tended to coincide with weaker economic activity and lower stock prices. But in more recent decades, rises in inflation have tended to coincide ...

Following ideas in Hume, monetary shocks are embedded in the Lagos-Wright model in a new way: There are only nominal shocks accomplished by individual transfers that are sufficiently noisy so that ...

The Phillips curve suggests a short-term inverse relationship between inflation and unemployment. Critics argue the model fails in the long term, evidenced by various Nobel criticisms. Investors ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation We study inflation dynamics in Colombia using a bottom-up Phillips curve approach. This allows us to capture the different ...

About a half-century ago, my investment and economic mentor, Bradford F. Story, remarked that leaders at the Federal Reserve and Treasury would never succeed until they disabused themselves of the ...

The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. Inflation, in contrast, has gone quiescent. This paper studies the ...