Template-Type: ReDIF-Paper 1.0
Author-Name: Rod Cross
Author-Name-First: Rod
Author-Name-Last: Cross
Author-Workplace-Name: Department of Economics, University of Strathclyde
Title: An appraisal of Friedman's positively sloped Phillips Curve conjecture
Abstract: In this paper we ask what happens in the medium-term interregnum between the domain of the short-run Phillips curve and that of the long-run effects on the natural rate of unemployment, according to Friedman's conjecture.  We discuss the new classical and hysteresis alternatives to Friedman's conjecture, and some of the methodological issues involved in appraising the conjecture. A simple model, and some data, are employed in this task.
Length: 45 pages
Creation-Date: 2018-09
Revision-Date: 
Publication-Status: 
File-URL: https://www.strath.ac.uk/media/1newwebsite/departmentsubject/economics/research/researchdiscussionpapers/18-14.pdf
File-Format: Application/pdf
Number: 1814
Classification-JEL: B22, E30, E31, N10
Keywords: Friedman, Nobel Prize Address, Phillips Curves, Short Run, Medium Run, Long Run.
Handle: RePEc:str:wpaper:1814