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• W2159317478 abstract "This paper uses monthly survey data for the G7 countries for the time period 1989 - 2007 to explore the link between expectations on nominal wages, prices and unemployment rate as suggested by the traditional and Samuelson-and-Solow-type Phillips curve. Three major flndings stand out: First, we flnd that survey participants trust in the original as well as the Samuelson-and-Solow-type Phillips curve relationship. Second, we flnd evidence in favor of nonlinearities in the expected Samuelson-and-Solow-type Phillips curve. Third, when we take into account a kink in the expected Phillips curve indicating that the slope of the Phillips curve difiers during the business cycle, we flnd strong evidence of this feature in the data which conflrms recent theoretical discussions in the literature that the Phillips curve is ∞atter in case of an economic downturn." @default.
• W2159317478 created "2016-06-24" @default.
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• W2159317478 date "2008-01-01" @default.
• W2159317478 modified "2023-09-27" @default.
• W2159317478 title "Does the Financial Market Believe in the Phillips Curve? - Evidence from the G7 countries" @default.
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