Mallick, Debdulal - Volkswirtschaftliche Fakultät, … - 2014
medium-run Phillips curve in the pre-1977 period, a downward sloping long-run Phillips curve during 1977-1993, and a … flattened Phillips curve from 1993 onwards. Inflation lags unemployment during the first period but leads during the second … period. The Phillips curve at business-cycle frequencies is downward sloping in all periods. Similar patterns are also …