Smith, Simon C.; Timmermann, Allan; Wright, Jonathan H. - National Bureau of Economic Research - 2023
We revisit time-variation in the Phillips curve, applying new Bayesian panel methods with breakpoints to US and … Phillips curve. It further allows us to determine the existence of clusters of industries, cities, or countries whose Phillips … poorer ones. Conversely, evidence of a flattening is weaker for MSA-level data and for the wage Phillips curve. US regional …