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"Inflation and Unemployment in a Macroeconometric Model," in 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.