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Applied Economics Letters Volume 24, 2017 - Issue 1
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Original Articles

‘Modern’ Phillips curves and the implications for the statistical process of inflation

Bill RussellEconomic Studies, School of Business, University of Dundee, Dundee, UKCorrespondence[email protected]
Pages 58-60 | Published online: 21 Mar 2016

References

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  • Friedman, M. 1968. “The Role of Monetary Policy.” American Economic Review 58 (1, March): 1–17.
  • Galí, J., and M. Gertler. 1999. “Inflation Dynamics: A Structural Econometric Analysis.” Journal of Monetary Economics 44: 195–222. doi:10.1016/S0304-3932(99)00023-9.
  • Galí, J., M. Gertler, and J. D. Lopez-Salido. 2001. “European Inflation Dynamics.” European Economic Review 45: 1237–1270. doi:10.1016/S0014-2921(00)00105-7.
  • Perron, P. 1989. “The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis.” Econometrica 57 (6): 1361–1401. doi:10.2307/1913712. November.
  • Phelps, E. S. 1967. “Phillips Curves, Expectations of Inflation, and Optimal Unemployment over Time.” Economica 34( 3 (August)): 254–281. doi:10.2307/2552025.
  • Popper, K. R. 1959. The Logic of Scientific Discovery, London, Hutchinson. Originally Published as Logik der Forschung in 1934. New York: Basic Books.
  • Russell, B. 2011. “Non-stationary Inflation and Panel Estimates of United States Short and Long-run Phillips Curves.” Journal of Macroeconomics 33: 406–419. doi:10.1016/j.jmacro.2011.02.006.
  • Russell, B. (2013). Macroeconomics: Science of Faith Based Discipline? Dundee Discussion Papers, Department of Economic Studies, University of Dundee, September, No. 276.
  • Russell, B., and R. A. Chowdhury. 2013. “Estimating United States Phillips Curves with Expectations Consistent with the Statistical Process of Inflation.” Journal of Macroeconomics 35: 24–38. doi:10.1016/j.jmacro.2012.11.004.
  • Svennson, L. E. O. 2000. “Open Economy Inflation Targeting.” Journal of International Economics 50: 155–183. doi:10.1016/S0022-1996(98)00078-6.

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