Phillips curve
Borio-led BIS team proposes new approach to measure output gap
Trying to calculate the output gap using the Phillips curve is problematic, say Basel-based economists; new approach finds financial cycle proxies add ‘significant information' to the estimate
Minneapolis paper finds stable Phillips curve in regional data
Researchers find relationship between unemployment and inflation holds in regional data but breaks down at national level; suggest this could be used for policy-making
Philly Fed paper tests accuracy of Phillips curve in forecasting inflation
Philadelphia Federal Reserve study shows accuracy of Phillips curve models in forecasting inflation is highest during economic downturns
Anchoring inflation eases deflation risks: IMF paper
Fund study on US inflation dynamics shows well-anchored inflation reduces risk of deflation
Semi-structural models and inflation forecasting: Bank of Canada paper
Bank of Canada study finds semi-structural models best traditional New Keynesian Phillips Curve, bivariate vector autoregression models at inflation forecasting
Bundesbank solves German inflation and unemployment anomaly
Bundesbank study finds new, significant trade-off between unemployment and inflation in Germany
Expansionary policy commitment redundant: Norges Bank
Norges Bank study says low interest rate rhetoric at central banks ineffective under neo-classical Phillips curve model
St Louis Fed: FOMC largely ignored Phillips curve framework
A St Louis Federal Reserve study on Fed transcripts shows the FOMC was split on whether to use the Philips curve in monetary policy decisions