Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...

The current jobless rate of 3.4% is below the natural rate, implying labor market tightness and according to the Phillips curve construct. For the Phillips curve to "work," changes in unemployment and ...

The surging price pressures that brought inflation to four-decade highs in the United States have many causes. Some are truly external to the economic system: for instance, plants that produce ...