Kalevras, Kostas2016-08-312025-03-26https://pyxida.aueb.gr/handle/123456789/7078https://doi.org/10.26219/heal.aueb.8733This 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.70p.CC BY: Attribution alone 4.0https://creativecommons.org/licenses/by/4.0/Phillips CurveInflation dynamicsNew Keynesian Phillips CurveNew Keynesian ModelNon-linear modelEconometricsMedian WageTextAlogoskoufis, Georgios