20min chapter

Macro Musings with David Beckworth cover image

Jonathon Hazell on Phillips Curves, Wage Rigidity, and How to Measure R-Star

Macro Musings with David Beckworth

CHAPTER

The Phillips Curve and Inflation

The chapter explores the concept of the Phillips Curve and its interpretations, discussing factors that can cause current inflation and the correlation between inflation and unemployment. It also delves into the importance of inflation expectations and the significance of hyperinflation in the early 1920s and the Volcker disinflation in the early 1980s.

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