Phillips curve still applies to Sweden, Riksbank researcher says
Firm-level data indicates that traditional relationship still holds, paper argues
The Phillips curve remains a useful tool for understanding resource utilisation and prices in Sweden, says a research paper published by the Sveriges Riksbank today (February 21).
After the financial crisis, some economists have questioned the validity of curve, pointing to simultaneous low unemployment and inflation in most European economies and the US. In 2018, unemployment in Sweden averaged 6.3% down from 6.7% in 2017, says the official statistical agency. However, inflation has barely
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