It takes the average reader and 23 minutes to read Has the Phillips Curve Become Steeper? by Mr. Anil Ari
Assuming a reading speed of 250 words per minute. Learn more
This paper analyzes whether structural changes in the aftermath of the pandemic have steepened the Phillips curves in advanced economies, reversing the flattening observed in recent decades and reducing the sacrifice ratio associated with disinflation. Particularly, analysis of granular price quote data from the UK indicates that increased digitalization may have raised price flexibility, while de-globalization may have made inflation more responsive to domestic economic conditions again. Using sectoral data from 24 advanced economies in Europe, higher digitalization and lower trade intensity are shown to be associated with steeper Phillips curves. Post-pandemic Phillips curve estimates indicate some steepening in the UK, Spain, Italy and the euro area as a whole, but at magnitudes that are too small to explain the entire surge in inflation in 2021–22, suggesting an important role for outward shifts in the Phillips curve.
Has the Phillips Curve Become Steeper? by Mr. Anil Ari is 23 pages long, and a total of 5,819 words.
This makes it 8% the length of the average book. It also has 7% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 31 minutes to read Has the Phillips Curve Become Steeper? aloud.
Has the Phillips Curve Become Steeper? is suitable for students ages 8 and up.
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