Search
Now showing items 1-1 of 1
Low Inflation Bends the Phillips Curve around the World
(Pontificia Universidad Católica del Perú, 2022-08-01)
This paper finds strong support for a Phillips curve that becomes nonlinear when inflation is “low”—which our baseline model defines as less than 3 percent. The nonlinear curve is steep when output is above potential (slack ...