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Death of the Phillips curve brings political foes together at the graveside

Larry Kudlow offered effusive praise last week to Alexandria Ocasio-Cortez after her quizzing of Jay Powell in Congress. She asked Mr Powell about how the Phillips curve seemed to have vanished over time.

Any convergence between them over the direction of policy risks being grounded in wildly diverging theories of how the economy works, both probably wrong.

Mr Trump awarded the Presidential Medal of Freedom to Mr Laffer earlier this year.

Martin Sandbu FT 6 July 2019

The Fed seems finally to have given up on the Phillips trade-off. So far, though, policymakers have no answers to the larger questions. And that leaves policy adrift.

Megan Greene FT 21 July 2019

Jämviktsarbetslöshet - NAIRU

Death of the Phillips curve - Nonsens.

If the economy takes off above Stall Speed the Philips Curve will be back.

Englund 2017

The Law of Supply and Demand

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