The Phillips curve suggests rising wages from low unemployment may increase inflation temporarily. High inflation may prompt Fed rate hikes, raising borrowing costs and wage demands. Despite ...
A key challenge for monetary policymakers is to predict where inflation is headed. One promising approach involves modifying a typical Phillips curve predictive regression to include an interaction ...
Inflation has climbed since 2021, as the labor market has tightened. Two historical data relationships can account for elevated inflation over the past two years: the Beveridge curve, which relates ...
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