Proposal to axe Phillips curve triggers controversy

Phillips curve

A proposal to cut out the Phillips curve from major macroeconomic models has triggered a heated debate among leading economists.

For several years now, economists have observed that the link between inflation and unemployment described by the Phillips curve has weakened. In many economies, the observed Phillips curve has become flatter, meaning inflation appears less responsive to changes in unemployment. That has led some to declare the curve “dead”.

Since the Phillips curve plays a central

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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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 here: