[position in research by date]
[position in research by subject]
"Inflation and Unemployment in a Macroeconometric
After The Phillips Curve: Persistence of High Inflation and High
Unemployment, Federal Reserve Bank of Boston, Conference Series
No. 19, June 1978, 164-193.
pdf file (1,463KB).
This paper is mostly a review of my work up to the time the paper was
written that relates to
the relationship between inflation and unemployment. One of the
main conclusions that was drawn from the empirical work is that the
data are not good at discriminating among alternative measures of demand
pressure in price and wage equations. This still seems true--
see 1997#2 for my latest discussion of this.