Productivity Growth and Phillips Curve in Canada

Board of Governors of the Federal Reserve System Productivity Growth and the Phillips Curve in Canada Productivity Growth and the Phillips Curve in Canada

This study examines the impact of productivity growth on the relationship between inflation and unemployment in Canada. Recently it has been suggested that higher productivity growth is responsible for a shift in the U.S. Phillips curve that occurred in the late 1990s. This paper examines whether the Phillips curve in Canada shifted in a manner similar to that of the United States, and the degr...

Does Micro Evidence Support the Wage Phillips Curve in Canada?

The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a “wage curve,” described by a negative relation between the level of the real wage and unemployment. Real wage dynamics have...

The Wage Curve and the Phillips Curve

Blanchflower and Oswald (1994) have argued that, in regional data, the level of unemployment is related to the fevel of wages. This result is at variance with an application of the original Phillips curve to regional data, which would predict that the change in wages ought to be related to the unemployment rate. On the other hand, there is considerable empirical support for the expectations-aug...

The Phillips Curve

The Phillips curve in Thailand¤

The subject of this paper is the estimation of the Phillips curve in Thailand. The aim of the estimation is to ...t the Phillips curve as part of a small-scale, log-linearised structural model for the country, which is suitable to form the basis for a future simulation exercise to ...nd an optimum monetary policy rule. A linear form of the Phillips curve is estimated using ordinary least square...