US EditionResurrecting the Lucas Phillips Curve
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Resurrecting the Lucas Phillips Curve
I’ve been remiss about writing here, as I worked full time to finish a new paper. Here it is: Inflation Dynamics with a Generalized Lucas Phillips Curve. It’s a small step in a research program laid out in “Expectations and the Neutrality of Interest Rates.” There is a chasm between the near uniform beliefs of central bankers, policy analysts, and economists vs. the actual operation of standard economic models in use for 35 years—the new-Keynesi…
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