The Slanted-L Phillips Curve.
"The Slanted-L Phillips Curve" explores the relationship between inflation and labor market tightness, challenging the conventional wisdom of a linear Phillips curve. The authors argue that the surge in inflation during the 2020s caught forecasters and policymakers off guard, highlighting the nonlin...
| Publicado en: | AEA Papers & Proceedings Vol. 114; pp. 84 - 90 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
American Economic Association
May2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=177441030&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 177441030 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 25740768 LNGQ jtl: AEA Papers & Proceedings issn: 25740768 maglogo: N pubinfo: dt: May2024 vid: 114 pid: 22 pub: American Economic Association artinfo: ui: 177441030 10.1257/pandp.20241051 ppf: 84 ppct: 6 formats: tig: atl: The Slanted-L Phillips Curve. aug: au: BENIGNO, PIERPAOLO EGGERTSSON, GAUTI B. affil: University of Bern Brown University su: Economic forecasting Business cycles Labor market Phillips curve Unemployment statistics sug: subj: Economic forecasting Business cycles Labor market Phillips curve Unemployment statistics ab: "The Slanted-L Phillips Curve" explores the relationship between inflation and labor market tightness, challenging the conventional wisdom of a linear Phillips curve. The authors argue that the surge in inflation during the 2020s caught forecasters and policymakers off guard, highlighting the nonlinearity of the Phillips curve. They provide evidence that periods of labor shortage lead to increased inflation, and present international evidence supporting the slanted-L Phillips curve. The article also introduces a graphical representation of the curve and a model that explains its shape, incorporating factors such as wage norms, labor demand, and production functions. References for further reading are provided. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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