Modern Phillips Curve dynamics and the median wage
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Ημερομηνία
Συγγραφείς
Kalevras, Kostas
Τίτλος Εφημερίδας
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Εκδότης
Επιβλέπων
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Περίληψη
This research outlines the Phillips Curve history, examines recent developments in the unemployment – inflation research (especially since the Great Recession and its impact on price and wage inflation dynamics) and takes a fresh look at explaining median wage growth movements with a parsimonious non-linear wage Phillips Curve model. The model is evaluated through time and against the Great Recession shock and presents a fruitful line of research closer to the original Phillips specification.
Περιγραφή
Λέξεις-κλειδιά
Phillips Curve, Inflation dynamics, New Keynesian Phillips Curve, New Keynesian Model, Non-linear model, Econometrics, Median Wage
