An examination of the Phillips curve using city- level data.

The article focuses on the concept of the Phillips curve, an economic theory presented by economist A.W. Phillips in 1958 to explain the relationship of labor market and wages. Overview of how the theory works using city-level data to examine whether sensitivity of wage growth to labor market has ch...

Descripción completa

Detalles Bibliográficos
Publicado en:	Monthly Labor Review pp. 1 - 3
Autor principal:	Parkinson, Cody
Formato:	Artículo
Publicado:	US Department of Labor Feb2018
Materias:	Phillips, A. W. Labor supply Labor market Phillips curve Lorenz curve Rational expectations (Economic theory) Demand function
Acceso en línea:	Ver este registro en EBSCOhost

Descripción
Sumario:	The article focuses on the concept of the Phillips curve, an economic theory presented by economist A.W. Phillips in 1958 to explain the relationship of labor market and wages. Overview of how the theory works using city-level data to examine whether sensitivity of wage growth to labor market has changed over time is offered. The three factors that authors should consider when using the approach when reviewing unemployment rate and wage growth correlation are also mentioned.