| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP321 |
| DP321 The Phillips Curve and the Lucas Critique: Some Historical Evidence | |
| George Alogoskoufis; Ron P Smith | |
| 发表日期 | 1989-06-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | This paper presents an investigation of the empirical significance of the Lucas Critique for the Phillips Curve. The investigation is carried out with annual historical time series for the United Kingdom (1857-1987) and the United States (1892-1987). The results, for two different models of the Phillips Curve, suggest that there are sizeable and statistically significant shifts in the parameters of wage equations when the process generating price inflation changes. The two major shifts that we identify coincide with the abandonment of the classical gold standard in 1914, and the disintegration of the Bretton Woods gold-dollar standard in the late 1960s. |
| 主题 | International Macroeconomics |
| 关键词 | inflation Lucas critique Phillips curve Unemployment |
| URL | https://cepr.org/publications/dp321 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529475 |
| 推荐引用方式 GB/T 7714 | George Alogoskoufis,Ron P Smith. DP321 The Phillips Curve and the Lucas Critique: Some Historical Evidence. 1989. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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