Tag: Phillips Curve

A story about three economists agree with the prevailing consensus that the Phillips Curve of the US is flattened in the last few decades on the one hand; and dispute the idea that the Phillips Curve is dead on the other.

In this interview, Prof. Farmer explains to us: Why are multiple equilibria modeling better compared to the standard unique equilibrium model? Why should "belief" be an important component to macroeconomic modeling? Why should central banks consider stock market intervention in stabilizing the employment markets?