Kromphardt, Jürgen; Logeay, Camille - In: European Journal of Economics and Economic Policies: … 8 (2011) 1, pp. 43-67
We test the hypothesis that the long-term Phillips curve is downward sloping and has become flatter in the last 10 to 15 years. Controlling for the most important other factors influencing the inflation rate, we estimate cointegrations and test whether a "break" in the Phillips curve can be...
