161,289 research outputs found
Vel Phillips Addressing Crowd
No full text6th Ward Alderman Vel Phillips on podium, from rear. N Lindsay Street Dedication.Grayscal
Vel Phillips Addressing Group
No full text6th Ward Alderman Vel Phillips on podium. For N Lindsay Street Dedication.Grayscal
Phillips, Johnson, Lindsay
No full textVel Phillips with Reverend Lovell Johnosn and Bernice Lindsay. N Lindsay Street Dedication.Colo
Vel Phillips and News Media
No full text6th Ward Alderman Vel Phillips on podium, 2nd angle w/ reporter. N Lindsay Street Dedication.Grayscal
Norman J. Phillips
No full text"Norman J. Phillips Ldg. O.C. H.M.A.S. Melville F3436 1941 - 1943."Norman J. Phillips. Leading Cook (O) His Majesty's Australian Ship Melville F3436 1941 - 1943
Non-stationary inflation and panel estimates of the n ew Keynesian Phillips curve for Australia
No full textThis paper uses a recent panel method of Russell and Banerjee (2008) to estimate the new Keynesian Phillips curve for Australia. Our estimates show that while the hybrid new Keynesian Phillips curve and backward looking conventional Phillips curve are well determined, estimates of the Phillips curve with the pure forward looking expectations are unsatisfactory.Panel data estimates, new Keynesian Phillips curve, Australia and Unit roots in the rate of inflation.
Inflation Forecasts and the New Keynesian Phillips Curve
No full textThe 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
Letter From Alfred N. Phillips Jr. to Francis Mairs Huntington-Wilson, July 24, 1941
No full textA typed letter from Alfred N. Phillips Jr. addressed to Francis Mairs Huntington-Wilson, dated July 24, 1941. Within, Phillips informs Wilson that a merging of the Fight for Freedom Committee and Defend America chapter won\u27t be possible.https://digitalcommons.ursinus.edu/fmhw_secondworldwar_documents/1057/thumbnail.jp
Telegram From Alfred N. Phillips to Francis Mairs Huntington-Wilson, August 11, 1941
No full textA typed telegram from Alfred N. Phillips Jr. addressed to Francis Mairs Huntington-Wilson, dated August 11, 1941. Within, Phillips expresses the present concern from the National Headquarters of the Fight for Freedom committee regarding military service.https://digitalcommons.ursinus.edu/fmhw_secondworldwar_documents/1059/thumbnail.jp
The South African Phillips Curve: How Applicable is the Gordon Model?
No full textIs 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.
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