"A Karnel Regression of Phillips' Data" Abstract: Economists have assumed that the Phillips curve, which shows a positive (negative) relation between inflation and the output ratio (unemployment rate), may be mapped off the aggregate demand -aggregate supply apparatus. The paper shows that the Phillips curve requires that unlikely restrictions be put on the form of the aggregate supply and ...
Year of publication: |
1990-11
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Authors: | Wulwick, Nancy J. ; Mack, Y.P. |
Institutions: | Levy Economics Institute |
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