Abstract The recent flattening of the Phillips curve has stimulated new empirical research and theoretical discussions regarding nonlinear nature changes in parameters. objective present paper is twofold: to detect relevant type implied nonlinearity look for some general model capable generating a mimicking one. We find evidence convex US price curve, from 1961 q1 2019 q4, assessed both by piec...

Today, unemployment is an important problem for almost all countries and one of the major problems affecting economically. The purpose this study put forward relationship between inflation in D8 (Turkey, Iran, Pakistan, Bangladesh, Malaysia, Indonesia, Egypt, Nigeria) within framework Phillips Curve Theory. For purpose, data covers period 1996 2020. In study, dynamic panel regression analysis w...

Determinacy of equilibrium under the original, the backward-looking, the forward-looking and the hybrid Phillips curves is examined. If the monetary authority keeps the nominal money stock to be constant, the equilibrium path is always determinate under the original Phillips curve and the forward-looking one. Under the backward-looking one and the hybrid one, however, the path can be non-existe...

In Order and Structure I have two main goals. First, I argue that the grammar should be viewed as an incremental left-to-right structure building system, and that this solves a number of problems in constituent structure. Second, I reassess the relationship between linguistic knowledge and language processing, and argue that mental systems for grammar and processing can be viewed as identical. ...

Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation rate. This paper studies the (potential) weak identification of these curves under generalized methods of moments (GMM) and traces this syndrome...

Abstract : The scattering theory of Lax and Phillips, originally developed to describe resonances associated with classical wave equations, has been recently extended to apply as well to the case of the Schrödinger equation in the case that the wave operators for the corresponding Lax-Phillips theory exist. It is known that the bound state levels of an atom become resonances (spectral enhanceme...

http://dx.doi.org/10.1016/j.foreco.2016.08.043 0378-1127/ 2016 Elsevier B.V. All rights reserved. q This article is part of a special section entitled ‘‘Drought and US Forests: Impacts and Potential Management Responses” published in Forest Ecology and Managem 2016. ⇑ Corresponding author. E-mail address: [email protected] (R.P. Phillips). Richard P. Phillips a,⇑, Inés Ibáñez , Loïc D’Orangevill...

We have benefitted from discussions with Ariel Burstein, Ricardo Caballero, V.V. Chari, Larry Christiano, Larry Jones, Boyan Jovanovic, Patrick Kehoe, Timothy Kehoe, Bob King, Pete Klenow, Oleksiy Kryvtsov, Ellen McGrattan, Thomas Philippon, Thomas Sargent, Nancy Stokey, Julia Thomas, and Aleh Tsyvinski. Participants in seminars at Chicago, Minnesota, the Federal Reserve Bank of Minneapolis, th...

This paper derives a Phillips curve with imported commodities as an additional input in the production process. Given greater reliance on exogenously priced imported commodities in production then changes in output lead to a reduced impact on marginal costs and prices. The Phillips curve becomes ‡atter relative to the benchmark New Keynesian case. Empirical evidence supports the hypothesis that...