Phillips Loops, Economic Relaxation, and Inflation Dynamics
We show how the dynamics of inflation as represented by the Phillips curve follow from a response formalism suggested by Phillips and motivated by the Keynesian notion that it takes time for an economy to respond to an economic shock. The resulting expressions for the Phillips curve are isomorphic t...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2025-05-01
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| Series: | AppliedMath |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2673-9909/5/2/51 |
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