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Modern Phillips Curve Dynamics and the Median Wage

71 Pages Posted: 23 Feb 2017  

Kostas Vladimirou Kalevras

Athens University of Economics and Business, Department of Economics, Students

Date Written: August 18, 2016

Abstract

This research outlines the Phillips Curve history, examines recent developments in the unemployment – inflation research (especially since the Great Recession and its impact on price and wage inflation dynamics) and takes a fresh look at explaining median wage growth movements with a parsimonious non-linear wage Phillips Curve model. The model is evaluated through time and against the Great Recession shock and presents a fruitful line of research closer to the original Phillips specification.

Keywords: Phillips Curve, Inflation Dynamics, New Keynesian Phillips Curve, New Keynesian Model, Non-Linear Model, Econometrics, Median Wage

JEL Classification: C22, E31, E52, E58, J31, N32, Y40

Suggested Citation

Kalevras, Kostas Vladimirou, Modern Phillips Curve Dynamics and the Median Wage (August 18, 2016). Available at SSRN: https://ssrn.com/abstract=2919836

Kostas Kalevras (Contact Author)

Athens University of Economics and Business, Department of Economics, Students ( email )

Athens
Greece

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