This paper surveys empirical Phillips curve and wage curve models for The Netherlands. It provides a simple theoretical model with which an appropriate specification for Phillips curve and wage curve models can be derived, which reckons with labour market tightness and fits into a flow model of the labour market. We find that in particular the short term unemployment-vacancy ratio and flows fro...

Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques that ignore the non-stationary behaviour of inflation. Consequently, the estimates obtained are imprecise and are unable to distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a Phillips curve model taking i...

In this paper we explore the influence of inflation rigidity on the monetary policy transmission mechanism in a model featuring the hybrid Phillips curve. We compare the New Keynesian Phillips curve and the hybrid Phillips curve for their contribution to reproducing stylized empirical facts about business cycles driven by monetary policy shocks. Variables’ induced volatility and the dynamics of...

We estimate output gaps using three methods for Mainland China on annual data spanning 1978-2003. The estimates are similar and appear to co-move with inflation. Standard Phillips curves, however, do not fit the data well. This may reflect the omission of some important variable(s) such as the effect of price deregulation, trade liberalisation and/or changes in the exchange rate regime. We rees...

Resonances are one of the most studied objects in physics, and in quantum mechanics they describe states which in addition to a rest energy have a rate of decay. A mathematical example is given by the zeros of the Riemann zeta function which are the resonances of the quantum Hamiltonian given by the Laplacian on the modular surface. The term "resonance" comes from the analogy with "a bell sound...

abstract in recent years, many researchers have attempted to estimate the soil hydraulic functions (e.g. soil moisture characteristics curve, and hydraulic conductivity function) using particle-size distribution (psd) curve. in these studies, an accurate mathematical representation of psd is required for fitting the observed data. so far, some mathematical models were developed with different l...

This paper considers whether the Phillips curve can explain the recent behavior of inflation in the United States. Standard formulations of the model predict that the ongoing large shortfall in economic activity relative to full employment should have led to deflation over the past several years. I confirm previous findings that the slope of the Phillips curve has varied over time and probably ...

n he nurse officer took a step back and punched the prisoner in the face while he was still sitting in the chair." These are not the words of a do gooding penal reformer or the claims of an embittered relative. They were spoken under oath from the witness box of Alloa Sheriff Court in August 1992 by Dr James MacGregor. He is a local general practitioner, who with his three colleagues has been c...