The Magic's Gone

RESEARCH - A hard look at the data shows that the famous NAIRU Phillips curve does no better at forecasting inflation than a simple look at the past. From 'The Region' published quarterly by the Federal Reserve Bank of Minneapolis, September 2001.

Click the first link on the right to read a summary of the Minneapolis Fed research on the Phillips Curve published in The Region.

Click the second link on the right to read the full text of the research.

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