Replication data for: Is Inflation Just Around the Corner? The Phillips Curve and Global Inflationary Pressures

Principal Investigator(s):  View help for Principal Investigator(s) Olivier Coibion; Yuriy Gorodnichenko; Mauricio Ulate

Version:  View help for Version V1

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  data 10/13/2019 01:36:AM
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Project Citation: 

Coibion, Olivier, Gorodnichenko, Yuriy, and Ulate, Mauricio. Replication data for: Is Inflation Just Around the Corner? The Phillips Curve and Global Inflationary Pressures. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114519V1

Project Description

Summary:  View help for Summary Tightening labor markets in the United States and other advanced economies suggest inflation should be on the rise, yet it remains subdued. Is the Phillips curve broken? We bring together surveys of household or firm expectations for 18 countries to estimate an expectations-augmented Phillips curve. We find strong evidence of a Phillips curve relationship: the Phillips curve is alive and well. The fact that inflation remains well below inflation expectations, both in the United States and abroad, suggests that there remains significant slack in labor markets.

Scope of Project

JEL Classification:  View help for JEL Classification
      E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      E31 Price Level; Inflation; Deflation


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Published Versions

V1 [2019-10-13]

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