4,471 research outputs found
The early history of the Phillips curve
No full textThe Phillips Curve depicts a relationship between inflation and unemployment in graphical or equation form. In a previous article (see the March /April issue of this Review), Thomas Humphrey catalogued the various formulations of the relationship that have appeared since the publication in 1958 of A. W. Phillips’ famous article on the subject. In the present article, Humphrey turns to the history of monetary doctrines seeking precursors of the modern formulations in the writings of Phillips’ forerunners. Humphrey finds an early representation of a Phillips Curve relationship in the writings of David Hume. Other pioneers in the curve’s pre-history include Irving Fisher, who first attempted to verify the relationship statistically, Jan Tinbergen, who estimated the first econometric Phillips Curve equation, and Paul Sultan, who first represented the relationship as a graph. Also considered are the contributions of Henry Thornton, John Stuart Mill, Lawrence Klein, A. J. Brown and others. Despite the work of these men, the Phillips Curve did not gain wide acceptance until the 1960s. Humphrey suggests several reasons for its belated popularity.Phillips curve
cohort study
No full textAbstract not available.Nitaa Eapen, Amit Kochar, Mark D Lyttle, Natalie Phillips, John A Cheek, Jeremy Furyk, Jocelyn Neutze, Silvia Bressan, Amanda Williams, Stephen Hearps, Ed Oakley, Stuart R Dalziel, Meredith L Borlan
The Nonlinear Phillips Curve and Inflation Forecast Targeting - Symmetric Versus Asymmetric Monetary Policy Rules
No full textWe extend the Svensson (1997a) inflation forecast targeting framework with a convex Phillips curve. We derive an asymmetric target rule, that implies a higher level of nominal interest rates than the Svensson (1997a) forward looking version of the reaction function popularised by Taylor (1993). Extending the analysis with uncertainty about the output gap, we find that uncertainty induces a further upward bias in nominal interest rates. Thus, the implications of uncertainty for optimal policy are the opposite of standard multiplier uncertainty analysis.inflation targets;nonlinearities;asymmetries;stochastic control
A taxa de inflação e a utilização da capacidade instalada: a curva de Phillips para o Brasil de 2003 a 2014
No full textTCC (graduação) - Universidade Federal de Santa Catarina. Centro Sócio-Econômico. Economia.Este estudo tem como objetivo a estimação de uma curva de Phillips brasileira no período 2003-2014 empregando dados relativos à inflação e à utilização da capacidade instalada. A Curva de Phillips foi estimada a partir da metodologia de Mínimos Quadrados Ordinários. A inflação foi especificada como função da expectativa inflacionária, da utilização da capacidade instalada e do repasse cambial. Os resultados demonstraram que, para o período, e com os dados utilizados, a taxa de inflação é influenciada tanto pela primeira diferença da expectativa inflacionária em t quanto pela primeira diferença da expectativa inflacionária em t-1, a utilização da capacidade instalada apresentou um relacionamento ambíguo e o repasse cambial não se mostrou significante na explicação da taxa de inflação da economia brasileira. A conclusão do trabalho foi de que a curva de Phillips, para o período examinado e com a utilização da capacidade como proxy da atividade econômica, não explica a dinâmica dos preços no Brasil (SACHSIDA; RIBEIRO; SANTOS; 2009). Chega-se a esse desfecho após a utilização da capacidade instalada não apresentar um comportamento satisfatório quando relacionada à taxa de inflação
Gerald M. Phillips\u27 Devotion to Basic Communication Skills
No full textThe passing of Gerald M. Phillips in April 1995 left a void only partially filled by his students and communication scholars familiar with his work. His commitment to basic communication instruction spanned a lifetime of research and service (including Jerry\u27s serving on the editorial board of the Annual over the last two years.)
Julia Wood, long-time colleague, co-author, student and friend, remembers Jerry for his substantial contributions to basic communication instruction and the speech communication field
Simple drag prediction strategies for an Autonomous Underwater Vehicle’s hull shape
No full textThe range of an AUV is dictated by its finite energy source and minimising the energy consumption is required to maximise its endurance. One option to extend the endurance is by obtaining the optimum hydrodynamic hull shape with balancing the trade-off between computational cost and fluid dynamic fidelity. An AUV hull form has been optimised to obtain low resistance hull. Hydrodynamic optimisation of hull form has been carried out by employing five parametric geometry models with a streamlined constraint. Three Genetic Algorithm optimisation procedures are applied by three simple drag predictions which are based on the potential flow method. The results highlight the effectiveness of considering the proposed hull shape optimisation procedure for the early stage of AUV hull desig
2010300093
No full textPCT Number: PCT/AU2010/001256
WIPO Number: WO2011/035386Inventors: Tester, Mark Alfred; Kaiser, Brent; Carter, Scott Anthony William; Shearer, Monique; Plett, Darren Craig; Roy, Stuart John; Cotsaftis, Olivier; Tyerman, Stephan; Okamoto, Mamoru. Assignee: Australian Centre for Plant Functional Genomics Pty Ltd. Agents: Phillips Ormonde Fitzpatric
New Keynesian Economics and the Phillips Curve.
No full textModels with sticky prices are an important part of New Keynesian economics. The author shows that several of the New Keynesian models imply a formulation that is similar to the expectations-augmented Phillips curve of Milton Friedman and Edmund Phelps. He then presents new estimates of the New Keynesian Phillips curve. The author uses two proxies for price expectations: survey-based measures and an econometric-based measure originally developed by Bennett McCallum (1976). Overall, the results are consistent with the model but the survey-based results are more precise, suggesting that the surveys may be better measures of actual expectations. Copyright 1995 by Ohio State University Press.
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