Phillips Curve Across Space and Time

• Department of Economics

In this seminar, Yiru Wang (University of Pittsburgh) will present the paper 'Phillips Curve Across Space and Time'.

In this paper, we examine the regional trade-off between inflation and unemployment using a state-level dataset. Our analysis delves into both the reduced-form correlation and the structural Phillips curve with a state-level panel dataset. By applying a data-driven classification method, we explore unobserved heterogeneity in group patterns across states and account for potential nonlinearities. Our findings underscore the presence of these nonlinearities and group patterns, highlighting that the flattening and return of the Phillips curve are regional and sporadical. 

Co-authors: Wenxin Huang and Lingyun Zhou