Talk:Phillips curve

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10:22, 15 December 2006 (UTC)Adaptive expectations will also get you a shifting Phillips curve. You don't need rational expectations. In fact, Friedman's original critique was made within a adaptive expectations framework.radek 06:39, 3 February 2006 (UTC)

There should be an example of this shift somewhere in the article, especially in the Stagflation section.

The image appears corrupt to me? hammodt 02:18, 30 May 2006 (BST)

Same here :/ - Marc K 08:56, 11 June 2006 (UTC)

An image of the Philips curve itself really should be first priority. - Slagfart

I added a simple definition at the front, that was sorely needed. I paraphrased some reliable textbook definitions obtained from a Google search "Phillips curve definition". (Jonfernquest 08:59, 17 August 2006 (UTC))

We need to put in some references in this article. --RickardV 10:22, 15 December 2006 (UTC)

[edit] "Pragmatic" Economists Use the Phillips Curve?

I have talked to economists, and be they Austrian, Keynesian, neo-Keynesian, or supply-side, no one thinks the Phillips Curve has any validity. - MSTCrow 05:14, 2 January 2007 (UTC)

I have talked to economists as well, and few have said that it has no validity whatsoever. They recognize that it is fundamentally flawed, sure, but not without any merit at all. Either way, it is a relatively important concept in the history of economic thought and should be addressed as it is.139.78.97.13 16:00, 20 April 2007 (UTC)

I am not sure I agree. But not having talked to economists there is the distinction between the original Philips curve and the Philips curve that is mounted with rational choice theory leading to a straight up line with just one level of unemployment. So what do these economists not find valid? RickardV 10:01, 21 April 2007 (UTC)

[edit] Empirical or theoretical?

The first line of the article defines the Phillips curve as a historical (ie empirical) relationship. If we define it as an empirical relationship, then we should distinguish that from any theory which purports to explain the empirical relationship. Therefore I deleted the words "in the theory" and also "tradeoff" from the opening definition.

Of course, it might be better to state two related definitions of 'Phillips curve': it referred originally to an empirical relationship observed in the data, but nowadays it also often refers to a theoretical relationship that occurs in (some) macroeconomic models. --Rinconsoleao (talk) 10:02, 7 December 2007 (UTC)

[edit] No citations?

This needs to be flagged as not citing anything. 128.54.48.14 (talk) 06:16, 19 February 2008 (UTC)