2008•Unpublished venueRequires access

1958-2008, avatars et enjeux de la courbe de Phillips [The Phillips curve at fifty]

Hervé Le Bihan

Abstract

The Phillips curve is fifty years old. Since Phillips (1958)'s original contribution this econometric relationship has undergone many criticisms and evolutions. The Phillips curve yet remains a fundamental tool for inflation forecasting and monetary policy analysis. This paper reviews the various versions of the Phillips curve, using reearch carried out at the Banque de France for illustration purpose, and discusses the main issues associated with this relation.

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Key concepts: Phillips curve, Keynesian economics, Inflation (cosmology), Economics, Econometric model, Monetary policy, Econometrics, Macroeconomics