Phillips curve remains an enigma

The understanding of what underlies the correlation between unemployment and the inflation rate is constantly changing, a new paper from the Richmond Federal Reserve.

The research finds that although a low period of inflation in the 1980s and early 1990s gave rise to a New-Keynesian-Phillips-Curve model based on the assumption of nominal rigidities, there was no agreement on the extent of nominal rigidities in the aggregate economy.

Click here to read paper

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account