Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating /
Most empirical work on the U.S. Phillips curve has had a strong tendency to impose global linearity on the data. The basic objective of this paper is to reconsider the issue of nonlinearity and to underscore its importance for policymaking. After briefly reviewing the history of the Phillips curve a...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1997.
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| Series: | IMF Working Papers; Working Paper ;
No. 1997/017 |
| Online Access: | Full text available on IMF |