Journal Article

Introduction to the New Keynesian Phillips curve


Abstract: In most industrialized economies inflation tends to be pro-cyclical; that is, inflation is high during times of high economic activity. When economic activity is measured by the unemployment rate this statistical relationship is known as the Phillips curve.

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Quarterly

Publication Date: 2008

Volume: 94

Issue: Fall

Pages: 301-309