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Non-Linear Phillips Curve and 2020s Inflation by camilonani26 is a document available to read on EtoBox.
This paper introduces a non-linear New Keynesian Phillips curve to explain the inflation surge in the 2020s, attributing it mainly to a tight labor market rather than supply shocks. The authors argue that appropriate monetary policy can reduce inflation without causing significant recession, contrasting with past experiences. Empirical evidence supports the existence of non-linearities in the Phillips curve, which have been overlooked in traditional economic models.
- Author
- camilonani26
- Language
- EN