80,896 research outputs found
T. S. Phillips to Horace Kephart, January 9, 1927
No full textIn a letter to Horace Kephart on January 9, 1927, T. S. Phillips asks Kephart where he might obtain the moccasins he writes about in Camping and Woodcraft. He asks about the antiseptic Kephart mentions, and compliments his writing
Letter from S. J. Phillips, President of the Booker T. Washington Birthplace Memorial, to Charley Daniels
No full textLetter from S. J. Phillips, President of the Booker T. Washington Birthplace Memorial, to Charley Daniels, concerning planned field trip to the site by the New Farmers of America and the New Homemakers of America
A. T. Phillips to All Outdoors, Inc., November 25, 1921
No full textIn a letter to All Outdoors on November 25, 1921, A. T. Phillips sends $1 in hopes of receiving a tin of Yerba Mate that he read about in the 1919 article “Roving with Kephart.” He also expresses appreciation for Kephart’s writings and wishes the magazine had more contributors like him.miuam luuotam a-.,
spokting m®m
Terrell, Taxes. MMF« 25, 1121.
ALL WriMORS, !!«!.
47 WJff 4fth «.
S!W TOJK CHf, 8»f»
I»
2a year iasue of 0*t©8»r 1910 under "Roving with RspharV
ths subject of *f*t%l Mate* appealed t;> »« at feeing a find for a ram,
during eeawaleseawee, and ether uses. 1 aislald this Issue and only
found It » few'days a#>, .alter eaeh«aftg it so throtiihly, 1 ©ould»*t
find it ayaelf.
1 »=i leaving imfiw days far *e«ta Ms** for the Hills,
«aae— mlpter Had iron latter* and 1 east a tin *f Tarhe Sat* »ers thea
anything els* a th© world right mm to taks with a*. . ia th* artiela
la your issue aoa*e referred to, yea stats that a tin of sheet Z lbs
rstails at #1.00. 2 an sasloaiag l^iowrrsaay), and If there shsuld
he say s/tooets, ia oris*,, please ssad It aarasl post ^Jg^JI* Sml JEffjr
djUti as 2 mat this Just as <plokly m possible.
2 osrtaialy wish th* outdoor sv>,*pgin*s had mora Goatrilv-
ters iiko Ksuhirt. Bvery one si his artaelss Is full of th* "human*
aad h* irresistibly draws th* reader to his. With eaoh issuo of ALL
CVrhOOaS 2 look far Ke.hart first.
Thanking you ia advance for your prompt attention ia the
above matter, and wishing ALL m:mom to uaoeuaded euoaess which it
2 hog to renaln.
Vtry truly youra,
a. f. PHILLIPS
403 W » M3K AWfUI
TURKU* ,.TBU8
Marriner S. Eccles, correspondence related to Federal Reserve [01]
No full textCorrespondence of Marriner S. Eccles from 1951 with members of the Federal Reserve Board and Federal Reserve banks and with others about Federal Reserve matters. Correspondents include Merritt Sherman, Allan Sproul, Ralph A. Young, C. S. ("Hap") Young, M. S. Szymczak, and R. M. ("Spike") Evans, as well as John Phillips, U.S. Representative from California. Includes a speech by Congressman Phillips about the U.S. Treasury Department\u27s bond-buying policy, printed in the Congressional Record, 18 July 1951
Evolving Phillips trade-off
Full text linkWe characterise the evolution of the U.S. unemployment-inflation trade-off since the late XIX century era via a Bayesian time-varying parameters structural VAR. The Great Inflation episode appears as historically unique along several dimensions. In particular, the shape of the ‘Phillips loop’–which is defined in terms of the impulse-response functions of inflation and unemployment’s deviations from equilibrium–was, during those years, clearly out of line with respect to the rest of the sample period for all structural innovations except money demand shocks. During the Great Depression, on the other hand, the Phillips trade-off did not exhibit any peculiar qualitative feature, so that, when seen through these lenses, the 1930s only stand out because of the sheer size of the macroeconomic fluctuation. The historical evolution of the Phillips trade-off exhibits virtually no connection with the evolution of the extent of trade openness of the U.S. economy. Although, by itself, this does not rule out a possible impact of globalisation on the slope of the trade-off in recent years, it clearly suggests that, historically, the evolution of the trade-off has been dominated by factors other than trade openness. JEL Classification: E30, E32Bayesian VARs, Globalisation, Great Depression, Great Inflation, identified VARs, Lucas Critique, Phillips trade-off, stochastic volatility, time-varying parameters
What do New-Keynesian Phillips Curves imply for price-level targeting?
Full text linkThis paper extends the analysis of price-level targeting to a model including the New-Keynesian Phillips Curve. We examine the inflation-output variability tradeoffs implied by optimal inflation and price-level rules. In previous work with the Neoclassical Phillips Curve, we found that the choice between inflation targeting and price-level targeting depended on the amount of persistence in the output gap. That is, if the output gap was not too persistent, or if lagged output did not enter the aggregate supply function, then inflation targets were preferred to price-level targets. When we start with a New-Keynesian Phillips Curve, the amount of persistence in the output gap still affects the relative placement of the inflation-output variability tradeoff. But, contrary to the Neoclassical case, even where the persistence of the output gap in the aggregate supply function is small or nonexistent, the price-level- targeting regime still results in a more favorable tradeoff between output and inflation variability than does an inflation-targeting regime.Phillips curve ; Monetary policy ; Inflation (Finance)
The South African Phillips Curve: How Applicable is the Gordon Model?
Full text linkIs there a Phillips curve relationship present in South Africa and if so, what form does it take? Traditionally the way to estimate the Phillips curve is merely to regress the change in the price level on a measure of the output gap (or the deviation of actual unemployment from the NAIRU). However, Gordon (1990:481-5) has argued that estimating the Phillips curve in this manner biases the estimated results. Instead, Gordon (1997; 1989) puts forward his so-called triangular model that controls for inertia effects, output level effects and rates-of-change (in output) effects. He applies the model to several European countries, the US and Japan and finds meaningful results. The question this paper poses is whether or not the triangular model also applies to South Africa. In estimating the Phillips curve for South Africa the paper also experiments with four versions of the output gap, based on four different methods to estimate long run output, including the standard Hodrick-Prescott (HP) filter and the production function approach. There are several variants of the Phillips curve. The first, as estimated by Phillips (1958) himself, measures the relationship between wage inflation and unemployment. However, other versions consider the relationship between price inflation and unemployment or price inflation and output. This paper focuses on the latter, given the absence of quarterly unemployment data in South Africa, as well as the lack of a reliable and sufficiently long unemployment time series. The paper first presents an overview of literature on the Phillips curve and its estimation for South Africa and other countries. This is followed by the second section that considers the model to be estimated, the data as well as the discussion of the alternative measures of the output gap. The third section presents the estimated results followed by section four that contains the conclusion and a discussion of the policy implications.
Inflation Forecasts and the New Keynesian Phillips Curve
Full text linkThe ability of the New Keynesian Phillips curve to explain US inflation dynamics when official central bank forecasts (Greenbook forecasts) are used as a proxy for inflation expectations is examined. The New Keynesian Phillips curve is estimated on quarterly data spanning the period 1970Q1-1998Q2 against the alternative of the Hybrid Phillips curve, which allows for a backward-looking component in the price-setting behavior in the economy. The results are compared to those obtained using actual data on future inflation as conventionally employed in empirical work under the assumption of rational expectations. The empirical evidence provides, in contrast to most of the relevant literature, considerable support for the standard forward-looking New Keynesian Phillips curve when inflation expectations are measured using official inflation forecasts. In this case, lagged inflation terms become insignificant in the hybrid specification. The usefulness of real unit labor cost as the preferred proxy for real marginal cost in recent empirical work on the Phillips curve is confirmed by our results.Money demand; Inflation; Phillips curve; Real marginal cost; Real-time data; GMM estimation
Clusters and Loops of the German Phillips Curve
Full text linkA preliminary regression analysis of different versions of the Phillips Curve on the basis of yearly data of the German economy from 1952 to 2004 leads to the conclusion that the original finding might still be of empirical relevance. A simple plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate shows a picture similar to that by which Phillips was inspired to his famous discovery: A long-term tendency of a negative, non-linear relationship coupled with minor deviations from this tendency forming sometimes so called loops. At fist sight, the Phillips Curve of Germany comprises clusters of data points and movements between these clusters. The clusters can be analysed and – together with the rest of data – dissolved into 12 (left or right turning) loops and 9 movements between these loops during the period from 1971Q1 to 2009Q4. In spite of the striking differences of these phenomena, a model with one regression equation is sufficient to explain the loops, the movements between the loops and the long-term tendency of the German Phillips Curve. This empirical finding contradicts several aspects with the ruling dogma of a Phillips Curve that broke down in the ‘70s and with the allegedly better fit of its replacements by augmented and modified Phillips Curves.Wages, inflation, unemployment, Phillips curve
Phillips, T D, 42352
No full textThis record was harvested from a previous catalogue system and will be withdrawn in 2025. Information in this record may be superseded or incomplete. Visit this record in UMA's new catalogue at: https://archives.library.unimelb.edu.au/nodes/view/410632Surname: PHILLIPS. Given Name(s) or Initials: T D. Military Service Number or Last Known Location: 42352. Missing, Wounded and Prisoner of War Enquiry Card Index Number: V-1219.226346
Item: [2016.0049.42899] "Phillips, T D, 42352
- …
