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class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170179/Dundee_Discussion_Papers_in_Economics_200_Non_stationary_inflation_and_panel_estimates_of_United_States_short_and_long_run_Phillips_curves"><img alt="Research paper thumbnail of Dundee Discussion Papers in Economics 200: Non-stationary inflation and panel estimates of United States short and long-run Phillips curves" class="work-thumbnail" src="https://attachments.academia-assets.com/120088313/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170179/Dundee_Discussion_Papers_in_Economics_200_Non_stationary_inflation_and_panel_estimates_of_United_States_short_and_long_run_Phillips_curves">Dundee Discussion Papers in Economics 200: Non-stationary inflation and panel estimates of United States short and long-run Phillips curves</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Non-stationary inflation and panel estimates of United States short and long-run Phillips curves....</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Non-stationary inflation and panel estimates of United States short and long-run Phillips curves. (Dundee Discussion Papers in Economics; No. 200). University of Dundee. General rights Copyright and moral rights for the publications made accessible in Discovery Research Portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from Discovery Research Portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain. • You may freely distribute the URL identifying the publication in the public portal. 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(Dundee Discussion Papers in Economics; No. 200). University of Dundee. General rights Copyright and moral rights for the publications made accessible in Discovery Research Portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from Discovery Research Portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain. • You may freely distribute the URL identifying the publication in the public portal. 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As a result we may expect the standard estimates of Phillips curves to be biased and suffer from ARCH. We demonstrate this is indeed the case. We also demonstrate that once the shifts in mean inflation are accounted for the ARCH is largely eliminated in the estimated model and the model defining expected rate of inflation in the New Keynesian model plays no significant role in the dynamics of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="b9cf226759fdbee99e3e54abe248a23f" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088312,"asset_id":126170178,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088312/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170178"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170178"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170178; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170178]").text(description); $(".js-view-count[data-work-id=126170178]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170178; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170178']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170178, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "b9cf226759fdbee99e3e54abe248a23f" } } $('.js-work-strip[data-work-id=126170178]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170178,"title":"ARCH and structural breaks in United States inflation","translated_title":"","metadata":{"publisher":"Taylor \u0026 Francis","grobid_abstract":"United States Phillips curves are routinely estimated without accounting for the shifts in mean inflation. As a result we may expect the standard estimates of Phillips curves to be biased and suffer from ARCH. We demonstrate this is indeed the case. 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We also demonstrate that once the shifts in mean inflation are accounted for the ARCH is largely eliminated in the estimated model and the model defining expected rate of inflation in the New Keynesian model plays no significant role in the dynamics of inflation.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088312,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088312/thumbnails/1.jpg","file_name":"V5_US_Inflation_ARCH_Dec_2013_cut_down.pdf","download_url":"https://www.academia.edu/attachments/120088312/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"ARCH_and_structural_breaks_in_United_Sta.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088312/V5_US_Inflation_ARCH_Dec_2013_cut_down-libre.pdf?1733705044=\u0026response-content-disposition=attachment%3B+filename%3DARCH_and_structural_breaks_in_United_Sta.pdf\u0026Expires=1733920951\u0026Signature=NljxjGE96CQodN-AWAyQWtZ7A~D0Bbd2FwkycPyxIKVlj3n5VsVGrrMosUmTI9mPD6AL5ziiu321PWSiOjBfgzYzOUv22KsanLog9EzOmSIrYpRpYcP6dUe9RF-Iih2vD1aryPnAe5MI73JGD5bFL0Cywdx5ihNlwBJ6WmmLKQg61R6EMbWYwGEZykKc6JKoGYldv6BKFxRJH3daCMHSGEkfWTEt3CIov-Zi83HQO4C-SfG8Lo5NEshI04g~0Akx2TibczOcUqB5LB97FTalhOFCs-3YzR~qlsROVqHP-U2NrdTn3Irs5uGhpLrKAyZozanUaQPMz~jOYyUc3AZYqQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":120088314,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088314/thumbnails/1.jpg","file_name":"V5_US_Inflation_ARCH_Dec_2013_cut_down.pdf","download_url":"https://www.academia.edu/attachments/120088314/download_file","bulk_download_file_name":"ARCH_and_structural_breaks_in_United_Sta.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088314/V5_US_Inflation_ARCH_Dec_2013_cut_down-libre.pdf?1733705044=\u0026response-content-disposition=attachment%3B+filename%3DARCH_and_structural_breaks_in_United_Sta.pdf\u0026Expires=1733920951\u0026Signature=chAtd76606WXdTbe8BISqkBXIi6nr1-JmawmD5JiP9mnxagxjgb7I-oolyKhYmEEeEacQKt1aAXJJp6-qgi8dRjHj67QyPrGMb1XuVIQwn3pLAjFZVzORPcL79uH~-qYcWHTy0UBnBCaIEwObuGqwg2oZ7aUqgpT6IMLWlL1Xt1GgwN97d~k9TR62SWE1lOgvT5UHshqK9ksqysAgymZPfkGaYzs-QwwpDqfas9qpfg1UakRDQTXLMS~PfALzLfI~2exR9tStBuXPidhexh~x2XPrHpKT-bB5w4g-c9EpBJTe1Hu4KryM96nX7i~Sw5UJBrUFdZLkFCmpucriim87A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":48414,"name":"Applied Economics Letters","url":"https://www.academia.edu/Documents/in/Applied_Economics_Letters"},{"id":74394,"name":"Arch","url":"https://www.academia.edu/Documents/in/Arch"},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation"},{"id":410370,"name":"Public health systems and services research","url":"https://www.academia.edu/Documents/in/Public_health_systems_and_services_research-1"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1187899,"name":"E","url":"https://www.academia.edu/Documents/in/E"},{"id":1188997,"name":"C","url":"https://www.academia.edu/Documents/in/C"},{"id":2468628,"name":"Structural Breaks","url":"https://www.academia.edu/Documents/in/Structural_Breaks"},{"id":3857559,"name":"Philips curve","url":"https://www.academia.edu/Documents/in/Philips_curve"},{"id":4111391,"name":"Markup","url":"https://www.academia.edu/Documents/in/Markup"}],"urls":[{"id":45978970,"url":"https://discovery.dundee.ac.uk/ws/files/8697712/V5_US_Inflation_ARCH_Dec_2013_cut_down.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170177"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_"><img alt="Research paper thumbnail of Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*" class="work-thumbnail" src="https://attachments.academia-assets.com/120088311/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_">Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*</a></div><div class="wp-workCard_item"><span>The World Bank Economic Review</span><span>, 2012</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The standard approach to modelling the relationship between world and producer prices of coffee d...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. These changes have led to large structural breaks in the relationship between the prices implying the standard estimates are biased. We model coffee prices in Brazil, Guatemala and India allowing for the structural breaks and show that the liberalisation of coffee markets has benefited producers substantially both in terms of a higher share of the world price of coffee and higher real prices. This suggests that calls to re-regulate coffee markets may be misplaced.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c2e22e99be9aca10e47dccfbf9f8a371" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088311,"asset_id":126170177,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170177"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170177"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170177; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170177]").text(description); $(".js-view-count[data-work-id=126170177]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170177; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170177']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170177, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c2e22e99be9aca10e47dccfbf9f8a371" } } $('.js-work-strip[data-work-id=126170177]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170177,"title":"Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*","translated_title":"","metadata":{"publisher":"Oxford University Press","grobid_abstract":"The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. 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This suggests that calls to re-regulate coffee markets may be misplaced.","publication_date":{"day":null,"month":null,"year":2012,"errors":{}},"publication_name":"The World Bank Economic Review","grobid_abstract_attachment_id":120088311},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_","translated_internal_url":"","created_at":"2024-12-08T16:06:20.815-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088311,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088311/thumbnails/1.jpg","file_name":"wber_26_3_514.pdf","download_url":"https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Coffee_Market_Liberalisation_and_the_Imp.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088311/wber_26_3_514-libre.pdf?1733705041=\u0026response-content-disposition=attachment%3B+filename%3DCoffee_Market_Liberalisation_and_the_Imp.pdf\u0026Expires=1733920951\u0026Signature=ZyU9E-Ubz~BJ9xmEAQ45TLDjFzvjenYXN56N2AswBLgFv6KttIlKb8yHa4z03~OelqgNNCrTbWKr3I1RHZKL5n1iovBfMRu6WM7ZIoZ76pZA83baETh9WoQ9141MEy5gfDidltWDS4NFziDMogFZ5WagH3xo9bTyUuh6VzPZ12f28w7-Sur5nwhB1a7R3wfwrOS0TxDaBNIRmkPqPVgOBld5xPkqOzD5682uEAN00fJ1R8VQM5M5LkJKnqeduzPbLjYqH34TCaAyqwMDQbkxQVJ6IGsFJI-bdIkcFtGFhoikkBXVzf8wmvE2d2lxZjSq7EM-DYk2yqMXo440mBe6Sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_","translated_slug":"","page_count":25,"language":"en","content_type":"Work","summary":"The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. These changes have led to large structural breaks in the relationship between the prices implying the standard estimates are biased. We model coffee prices in Brazil, Guatemala and India allowing for the structural breaks and show that the liberalisation of coffee markets has benefited producers substantially both in terms of a higher share of the world price of coffee and higher real prices. This suggests that calls to re-regulate coffee markets may be misplaced.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088311,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088311/thumbnails/1.jpg","file_name":"wber_26_3_514.pdf","download_url":"https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Coffee_Market_Liberalisation_and_the_Imp.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088311/wber_26_3_514-libre.pdf?1733705041=\u0026response-content-disposition=attachment%3B+filename%3DCoffee_Market_Liberalisation_and_the_Imp.pdf\u0026Expires=1733920951\u0026Signature=ZyU9E-Ubz~BJ9xmEAQ45TLDjFzvjenYXN56N2AswBLgFv6KttIlKb8yHa4z03~OelqgNNCrTbWKr3I1RHZKL5n1iovBfMRu6WM7ZIoZ76pZA83baETh9WoQ9141MEy5gfDidltWDS4NFziDMogFZ5WagH3xo9bTyUuh6VzPZ12f28w7-Sur5nwhB1a7R3wfwrOS0TxDaBNIRmkPqPVgOBld5xPkqOzD5682uEAN00fJ1R8VQM5M5LkJKnqeduzPbLjYqH34TCaAyqwMDQbkxQVJ6IGsFJI-bdIkcFtGFhoikkBXVzf8wmvE2d2lxZjSq7EM-DYk2yqMXo440mBe6Sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":65590,"name":"Pesticide","url":"https://www.academia.edu/Documents/in/Pesticide"},{"id":353159,"name":"Crop","url":"https://www.academia.edu/Documents/in/Crop"},{"id":578704,"name":"Liberalization","url":"https://www.academia.edu/Documents/in/Liberalization"},{"id":896356,"name":"Commodity","url":"https://www.academia.edu/Documents/in/Commodity"}],"urls":[{"id":45978969,"url":"https://openknowledge.worldbank.org/bitstream/10986/19082/1/wber_26_3_514.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170176"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170176/Modern_Phillips_Curves_and_the_Implications_For_The_Statistical_Process_of_Inflation"><img alt="Research paper thumbnail of Modern' Phillips Curves and the Implications For The Statistical Process of Inflation" class="work-thumbnail" src="https://attachments.academia-assets.com/120088318/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170176/Modern_Phillips_Curves_and_the_Implications_For_The_Statistical_Process_of_Inflation">Modern' Phillips Curves and the Implications For The Statistical Process of Inflation</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Jun 1, 2015</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="67376c90ad75f27c6dedff32856cfc94" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088318,"asset_id":126170176,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088318/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170176"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170176"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170176; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170176]").text(description); $(".js-view-count[data-work-id=126170176]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170176; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170176']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170176, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "67376c90ad75f27c6dedff32856cfc94" } } $('.js-work-strip[data-work-id=126170176]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170176,"title":"Modern' Phillips Curves and the Implications For The Statistical Process of Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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Consequently, the estimates obtained are imprecise and are unable to distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a Phillips curve model taking into account the non-stationary properties in inflation and identify a small but significant positive relationship between inflation and unemployment. The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="55cd34a1edef351d18d2e3dc0c9da020" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088319,"asset_id":126170175,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170175"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170175"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170175; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170175]").text(description); $(".js-view-count[data-work-id=126170175]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170175; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170175']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170175, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "55cd34a1edef351d18d2e3dc0c9da020" } } $('.js-work-strip[data-work-id=126170175]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170175,"title":"The Long-Run Phillips Curve and Non-Stationary Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques that ignore the non-stationary behaviour of inflation. 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The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.","publication_date":{"day":null,"month":null,"year":2006,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088319},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170175/The_Long_Run_Phillips_Curve_and_Non_Stationary_Inflation","translated_internal_url":"","created_at":"2024-12-08T16:06:20.102-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088319,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088319/thumbnails/1.jpg","file_name":"7371501.pdf","download_url":"https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_Long_Run_Phillips_Curve_and_Non_Stat.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088319/7371501-libre.pdf?1733705057=\u0026response-content-disposition=attachment%3B+filename%3DThe_Long_Run_Phillips_Curve_and_Non_Stat.pdf\u0026Expires=1733920951\u0026Signature=BZufhabD3e-iNBbHHw5nmyUNctyGkcZlP5Vz8ScvMDH89EfxFVS3mAlQL1ohslnlmWyVpPxe69u9uEb8UMIJKbquitOd6cW9lhuYeYN595e1n-pEBeEwYZ09ZkBzmF-QIMajOcgMWumBlf8eYrIVyR5OF4xbs6x~N6sFrljV~-kBssjWEef-lZe9yjTcosPPOGfiB3Lg1bs~jt18aQaTxaPDQJ59FDU3VDk5QIOS6LspZ2IkytYVhFl3HE3xruz9zMboQaexJ6qGskv-~UL07Q54ZLkJsAi6tixPkjX7EcjA7mK7x4RmGTQzzdM0rDNvZibGxMSK2LZIvHhzwhhKYQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_Long_Run_Phillips_Curve_and_Non_Stationary_Inflation","translated_slug":"","page_count":32,"language":"en","content_type":"Work","summary":"Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques that ignore the non-stationary behaviour of inflation. Consequently, the estimates obtained are imprecise and are unable to distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a Phillips curve model taking into account the non-stationary properties in inflation and identify a small but significant positive relationship between inflation and unemployment. The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088319,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088319/thumbnails/1.jpg","file_name":"7371501.pdf","download_url":"https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_Long_Run_Phillips_Curve_and_Non_Stat.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088319/7371501-libre.pdf?1733705057=\u0026response-content-disposition=attachment%3B+filename%3DThe_Long_Run_Phillips_Curve_and_Non_Stat.pdf\u0026Expires=1733920951\u0026Signature=BZufhabD3e-iNBbHHw5nmyUNctyGkcZlP5Vz8ScvMDH89EfxFVS3mAlQL1ohslnlmWyVpPxe69u9uEb8UMIJKbquitOd6cW9lhuYeYN595e1n-pEBeEwYZ09ZkBzmF-QIMajOcgMWumBlf8eYrIVyR5OF4xbs6x~N6sFrljV~-kBssjWEef-lZe9yjTcosPPOGfiB3Lg1bs~jt18aQaTxaPDQJ59FDU3VDk5QIOS6LspZ2IkytYVhFl3HE3xruz9zMboQaexJ6qGskv-~UL07Q54ZLkJsAi6tixPkjX7EcjA7mK7x4RmGTQzzdM0rDNvZibGxMSK2LZIvHhzwhhKYQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics"},{"id":6208,"name":"Economic Theory","url":"https://www.academia.edu/Documents/in/Economic_Theory"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":39039,"name":"Keynesian Economics","url":"https://www.academia.edu/Documents/in/Keynesian_Economics"},{"id":294059,"name":"Phillips curve","url":"https://www.academia.edu/Documents/in/Phillips_curve"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1370085,"name":"Inflation Rate","url":"https://www.academia.edu/Documents/in/Inflation_Rate"},{"id":3623091,"name":"Misery Index","url":"https://www.academia.edu/Documents/in/Misery_Index"}],"urls":[{"id":45978967,"url":"https://econpapers.repec.org/paper/euieuiwps/eco2006_2f16.htm"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170174"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy"><img alt="Research paper thumbnail of Non-stationary inflation and the markup: an overview of the research and some implications for policy" class="work-thumbnail" src="https://attachments.academia-assets.com/120088310/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy">Non-stationary inflation and the markup: an overview of the research and some implications for policy</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Aug 1, 2006</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper reports on research into the negative relationship between inflation and the markup. I...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper reports on research into the negative relationship between inflation and the markup. It is argued that this relationship can be thought of as 'long-run' in nature which suggests that inflation has a persistent effect on the markup and, therefore, the real wage. A 'rule of thumb' from the estimates indicate that a 10 percentage point increase in inflation (as occurred worldwide in the 1970s) is associated with around a 7 per cent fall in the markup accompanied by a similar increase in the real wage. It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="392a876118140997ee7facb9decb6e73" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088310,"asset_id":126170174,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170174"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170174"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170174; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170174]").text(description); $(".js-view-count[data-work-id=126170174]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170174; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170174']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170174, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "392a876118140997ee7facb9decb6e73" } } $('.js-work-strip[data-work-id=126170174]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170174,"title":"Non-stationary inflation and the markup: an overview of the research and some implications for policy","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper reports on research into the negative relationship between inflation and the markup. It is argued that this relationship can be thought of as 'long-run' in nature which suggests that inflation has a persistent effect on the markup and, therefore, the real wage. A 'rule of thumb' from the estimates indicate that a 10 percentage point increase in inflation (as occurred worldwide in the 1970s) is associated with around a 7 per cent fall in the markup accompanied by a similar increase in the real wage. It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.","publication_date":{"day":1,"month":8,"year":2006,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088310},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy","translated_internal_url":"","created_at":"2024-12-08T16:06:19.748-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088310,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088310/thumbnails/1.jpg","file_name":"DDPE_191.pdf","download_url":"https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Non_stationary_inflation_and_the_markup.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088310/DDPE_191-libre.pdf?1733705055=\u0026response-content-disposition=attachment%3B+filename%3DNon_stationary_inflation_and_the_markup.pdf\u0026Expires=1733920951\u0026Signature=OvOY3V~lcXi5RyKXmSxl~~UjBU~-dnuMAa-rzj2Fh-C8kQ2MOumEsBVkymGrr9YjqcDtOKMcnTqDKsv6xOlSZxFG8FreQPvjHbwxXcBU3zB8O2keseHgBpI1DlDMrrttTFXkfWLPPivmtf8d5Kes9x3xT54oQyoFdUEoSQw7BSHldbxHVB0RQOjS8FNYKHbdESL~OXDBPY0b5uihcq-uqJQS1cI5OyywGhdSDdS69AKLlPPL3o9HuCsP9ERQXMwbeklur-mzITe69reS5c60t0lJuVumVRIy~iM29mQHAeykIYbTfw4~lOCc1fUD0N-k~qz2ppOpyQHtFRZwm4wSRA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy","translated_slug":"","page_count":31,"language":"en","content_type":"Work","summary":"This paper reports on research into the negative relationship between inflation and the markup. 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It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088310,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088310/thumbnails/1.jpg","file_name":"DDPE_191.pdf","download_url":"https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Non_stationary_inflation_and_the_markup.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088310/DDPE_191-libre.pdf?1733705055=\u0026response-content-disposition=attachment%3B+filename%3DNon_stationary_inflation_and_the_markup.pdf\u0026Expires=1733920951\u0026Signature=OvOY3V~lcXi5RyKXmSxl~~UjBU~-dnuMAa-rzj2Fh-C8kQ2MOumEsBVkymGrr9YjqcDtOKMcnTqDKsv6xOlSZxFG8FreQPvjHbwxXcBU3zB8O2keseHgBpI1DlDMrrttTFXkfWLPPivmtf8d5Kes9x3xT54oQyoFdUEoSQw7BSHldbxHVB0RQOjS8FNYKHbdESL~OXDBPY0b5uihcq-uqJQS1cI5OyywGhdSDdS69AKLlPPL3o9HuCsP9ERQXMwbeklur-mzITe69reS5c60t0lJuVumVRIy~iM29mQHAeykIYbTfw4~lOCc1fUD0N-k~qz2ppOpyQHtFRZwm4wSRA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":16475,"name":"Competition","url":"https://www.academia.edu/Documents/in/Competition"},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy"},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation"},{"id":393160,"name":"Prices","url":"https://www.academia.edu/Documents/in/Prices"},{"id":416920,"name":"Wages","url":"https://www.academia.edu/Documents/in/Wages"},{"id":609969,"name":"Wage","url":"https://www.academia.edu/Documents/in/Wage"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1471386,"name":"Extensible Markup Language","url":"https://www.academia.edu/Documents/in/Extensible_Markup_Language"},{"id":2530317,"name":"Rule-Of-Thumb","url":"https://www.academia.edu/Documents/in/Rule-Of-Thumb"},{"id":4111391,"name":"Markup","url":"https://www.academia.edu/Documents/in/Markup"}],"urls":[{"id":45978966,"url":"https://discovery.dundee.ac.uk/ws/files/107283/DDPE_191.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170173"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170173/Modelling_thirty_five_years_of_coffee_prices_in_Brazil_Guatemala_and_India"><img alt="Research paper thumbnail of Modelling thirty five years of coffee prices in Brazil, Guatemala and India" class="work-thumbnail" src="https://attachments.academia-assets.com/120088308/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170173/Modelling_thirty_five_years_of_coffee_prices_in_Brazil_Guatemala_and_India">Modelling thirty five years of coffee prices in Brazil, Guatemala and India</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Dec 1, 2008</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Over the past thirty five years coffee markets have been subject to market controls and regulatio...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Over the past thirty five years coffee markets have been subject to market controls and regulations culminating in the liberalisation of coffee markets in the early 1990s. This paper models the relationship between the producers' and world prices of coffee in Brazil, Guatemala and India allowing for the effects of changes in market structures. We find that liberalisation has benefited producers substantially in terms of higher real coffee prices and a higher share of the world price of coffee.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="df2afd1d04b5407a96b87dbde4c9eac7" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088308,"asset_id":126170173,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088308/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170173"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170173"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170173; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170173]").text(description); $(".js-view-count[data-work-id=126170173]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170173; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170173']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170173, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "df2afd1d04b5407a96b87dbde4c9eac7" } } $('.js-work-strip[data-work-id=126170173]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170173,"title":"Modelling thirty five years of coffee prices in Brazil, Guatemala and India","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"Over the past thirty five years coffee markets have been subject to market controls and regulations culminating in the liberalisation of coffee markets in the early 1990s. 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This paper models the relationship between the producers' and world prices of coffee in Brazil, Guatemala and India allowing for the effects of changes in market structures. We find that liberalisation has benefited producers substantially in terms of higher real coffee prices and a higher share of the world price of coffee.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088308,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088308/thumbnails/1.jpg","file_name":"DDPE_221.pdf","download_url":"https://www.academia.edu/attachments/120088308/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Modelling_thirty_five_years_of_coffee_pr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088308/DDPE_221-libre.pdf?1733705048=\u0026response-content-disposition=attachment%3B+filename%3DModelling_thirty_five_years_of_coffee_pr.pdf\u0026Expires=1733920952\u0026Signature=CjC2vu4QwdASQJ9HNjd5KqYs-atGL285SGlBJDQkIWE-se~63b7ZrXWyHJR6zMXTM08niTfTza8j58KuPgcgoWHT8~yG~CEzFe9CKz8jQ-fH4~Kh7YvLfEJbxwRuRtOeBnok2ObleDDEenuBzwFAoHf9wd73bMLyxKwJOfTaL-viRPrW388QT2PLetMxQ2aSARd7riebRRH0UI1TeKbSiSYe7zRkbiXqv1CALvwdmNC8Esqmbimz8F0bF2t8kV-mV4i2dE~lH2ldxw~MGvSoRI4aqDVA0lUQ2KUeX20WttSvHhtzzT7MoQNYQbjjJRRp2BztXj8LKTh8Ae80BbGMig__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":120088309,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088309/thumbnails/1.jpg","file_name":"DDPE_221.pdf","download_url":"https://www.academia.edu/attachments/120088309/download_file","bulk_download_file_name":"Modelling_thirty_five_years_of_coffee_pr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088309/DDPE_221-libre.pdf?1733705050=\u0026response-content-disposition=attachment%3B+filename%3DModelling_thirty_five_years_of_coffee_pr.pdf\u0026Expires=1733920952\u0026Signature=Y0VgfXql98hKwW5A-LwKg1sNBOmO4EmNWa1hGTgvE~cJRQdHN5sCTKgOM27R4gnGkMui~0WEfoXStK95AEQQfohw8hBmf74o4AHpsbChvPpApnZ5uz1U02k8nWlOWuMdTziuC0bci-rT7IzHCRG4QgXIo9lSkKyFh2q~uBSJu~PdyjyrXr4Y1vpz6gk8IVVYPfBtRFYPQQDhWKPBNpL9fw0O7WCfaosXjHCi3NIJrZkvHK5uYNF-hi4bg4uRDgKahNnk1d0ijUWyDpfawlZk5aZoZ4biMXp~xPWl-I6U8y5AhJKdV2EAe-KFAeczhBbtC6dE4mPn91RJNIq5zTP0sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":7312,"name":"Agricultural Economics","url":"https://www.academia.edu/Documents/in/Agricultural_Economics"},{"id":13242,"name":"Market Structure","url":"https://www.academia.edu/Documents/in/Market_Structure"},{"id":136198,"name":"Liberalisation","url":"https://www.academia.edu/Documents/in/Liberalisation"},{"id":176461,"name":"Cointegration","url":"https://www.academia.edu/Documents/in/Cointegration"},{"id":578704,"name":"Liberalization","url":"https://www.academia.edu/Documents/in/Liberalization"}],"urls":[{"id":45978965,"url":"https://discovery.dundee.ac.uk/ws/files/108281/DDPE_221.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170172"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup"><img alt="Research paper thumbnail of The long run relationship among price variability, inflation and the markup" class="work-thumbnail" src="https://attachments.academia-assets.com/120088307/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup">The long run relationship among price variability, inflation and the markup</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Aug 1, 2002</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper links two existing but separate literatures. Measures of the markup, inflation and rel...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper links two existing but separate literatures. Measures of the markup, inflation and relative price variability (RPV) from annual and quarterly US and UK data are used to examine the relationships among the variables. The results show that two long-run relationships can be identified from the data: a negative relationship between inflation and the markup and a positive relationship between inflation and RPV. As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="91428e9e04e7b622bb8c5936b08fb889" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088307,"asset_id":126170172,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170172"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170172"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170172; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170172]").text(description); $(".js-view-count[data-work-id=126170172]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170172; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170172']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170172, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "91428e9e04e7b622bb8c5936b08fb889" } } $('.js-work-strip[data-work-id=126170172]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170172,"title":"The long run relationship among price variability, inflation and the markup","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper links two existing but separate literatures. 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As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.","publication_date":{"day":1,"month":8,"year":2002,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088307},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup","translated_internal_url":"","created_at":"2024-12-08T16:06:19.012-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088307,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088307/thumbnails/1.jpg","file_name":"DDPE_127.pdf","download_url":"https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_long_run_relationship_among_price_va.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088307/DDPE_127-libre.pdf?1733705064=\u0026response-content-disposition=attachment%3B+filename%3DThe_long_run_relationship_among_price_va.pdf\u0026Expires=1733920952\u0026Signature=bjfO8RfIPKZi81mMASGfaADPmnhOqdQIxfZv4NvWfo~Lr1jnGA6OGMPAAkXYifDD1JZ78Isn8OsZSVG2Sc1pzZB6EvpLU8Lx6PA-k64cGOb5ObkOS0yjvj~VThOumRQop~FaBAiT6v2hY09haM8H~8uOiUJkWCyMGdbgKg1V2XpREqOdl2lPYHM3JN23Rh4BCPrBt-e1GrYjYkiwCslG0kYex76ce0oXQ1-2jKQ6JahFNTSRSMGr6qY9StcSEKNS0YfPDWsDLFLkuhzUje7uS11YxfqWlMneziiwYh6rzKOS1iZ5RK~xB9f11zSqF9LPrWRYtCn30IaGXP58sZwCGw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_long_run_relationship_among_price_variability_inflation_and_the_markup","translated_slug":"","page_count":46,"language":"en","content_type":"Work","summary":"This paper links two existing but separate literatures. Measures of the markup, inflation and relative price variability (RPV) from annual and quarterly US and UK data are used to examine the relationships among the variables. The results show that two long-run relationships can be identified from the data: a negative relationship between inflation and the markup and a positive relationship between inflation and RPV. As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088307,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088307/thumbnails/1.jpg","file_name":"DDPE_127.pdf","download_url":"https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_long_run_relationship_among_price_va.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088307/DDPE_127-libre.pdf?1733705064=\u0026response-content-disposition=attachment%3B+filename%3DThe_long_run_relationship_among_price_va.pdf\u0026Expires=1733920952\u0026Signature=bjfO8RfIPKZi81mMASGfaADPmnhOqdQIxfZv4NvWfo~Lr1jnGA6OGMPAAkXYifDD1JZ78Isn8OsZSVG2Sc1pzZB6EvpLU8Lx6PA-k64cGOb5ObkOS0yjvj~VThOumRQop~FaBAiT6v2hY09haM8H~8uOiUJkWCyMGdbgKg1V2XpREqOdl2lPYHM3JN23Rh4BCPrBt-e1GrYjYkiwCslG0kYex76ce0oXQ1-2jKQ6JahFNTSRSMGr6qY9StcSEKNS0YfPDWsDLFLkuhzUje7uS11YxfqWlMneziiwYh6rzKOS1iZ5RK~xB9f11zSqF9LPrWRYtCn30IaGXP58sZwCGw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1471386,"name":"Extensible Markup Language","url":"https://www.academia.edu/Documents/in/Extensible_Markup_Language"}],"urls":[{"id":45978964,"url":"https://discovery.dundee.ac.uk/ws/files/106373/DDPE_127.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170171"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170171/Australian_Wage_and_Price_Inflation_1971_1994"><img alt="Research paper thumbnail of Australian Wage and Price Inflation: 1971-1994" class="work-thumbnail" src="https://attachments.academia-assets.com/120088306/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170171/Australian_Wage_and_Price_Inflation_1971_1994">Australian Wage and Price Inflation: 1971-1994</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Nov 1, 1995</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper estimates an imperfect competition model of price and wage adjustment for Australia. T...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper estimates an imperfect competition model of price and wage adjustment for Australia. The results suggest the Australian economy can be characterised as one where firms are trying to achieve their desired long-run income share while workers are primarily concerned with maintaining their real wage. The estimation of the price-wage model is complicated by two problems; namely the substantial and persistent changes in income shares and the changing means in the inflation series over the sample. The first problem was overcome by extending the estimation period to include the wage shocks in the early 1970s which allows the income shares to be characterised as stationary. The second problem was addressed by imposing a restriction to the wage equation. This allowed a range of possible steady state inflation rates in the model over the estimated sample.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="b9efea261ebbf60130cbe50c44d98808" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088306,"asset_id":126170171,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088306/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170171"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170171"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170171; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170171]").text(description); $(".js-view-count[data-work-id=126170171]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170171; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170171']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170171, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "b9efea261ebbf60130cbe50c44d98808" } } $('.js-work-strip[data-work-id=126170171]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170171,"title":"Australian Wage and Price Inflation: 1971-1994","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper estimates an imperfect competition model of price and wage adjustment for Australia. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170170"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170170/Towards_an_Understanding_of_Australia_s_Co_movement_with_Foreign_Business_Cycles"><img alt="Research paper thumbnail of Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles" class="work-thumbnail" src="https://attachments.academia-assets.com/120088304/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170170/Towards_an_Understanding_of_Australia_s_Co_movement_with_Foreign_Business_Cycles">Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Nov 1, 1996</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper identifies two transmission mechanisms which might contribute to explaining the well-d...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper identifies two transmission mechanisms which might contribute to explaining the well-documented correlation between Australian and foreign business cycles. The first is through exports. We find that the US and Japan have a high output elasticity of demand for Australia's exports. Consequently, their business cycles have a larger impact on Australia's exports than that suggested by their market shares. The second mechanism is through the share market. Both the US and Australian share markets appear to have a significant impact on Australian activity. Evidence is also found that the responses of investment to the share market in the two countries are remarkably similar. Given that the share markets are highly correlated, the similarity in response lags may help to explain the correlation in business cycles.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="470aabebeeceaa4ae676c6a66c76956a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088304,"asset_id":126170170,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088304/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170170"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170170"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170170; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170170]").text(description); $(".js-view-count[data-work-id=126170170]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170170; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170170']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170170, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "470aabebeeceaa4ae676c6a66c76956a" } } $('.js-work-strip[data-work-id=126170170]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170170,"title":"Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper identifies two transmission mechanisms which might contribute to explaining the well-documented correlation between Australian and foreign business cycles. 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The first is through exports. We find that the US and Japan have a high output elasticity of demand for Australia's exports. Consequently, their business cycles have a larger impact on Australia's exports than that suggested by their market shares. The second mechanism is through the share market. Both the US and Australian share markets appear to have a significant impact on Australian activity. Evidence is also found that the responses of investment to the share market in the two countries are remarkably similar. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170158"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170158/Breaks_and_the_statistical_process_of_inflation_the_case_of_estimating_the_modern_long_run_Phillips_curve"><img alt="Research paper thumbnail of Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve" class="work-thumbnail" src="https://attachments.academia-assets.com/120088288/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170158/Breaks_and_the_statistical_process_of_inflation_the_case_of_estimating_the_modern_long_run_Phillips_curve">Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve</a></div><div class="wp-workCard_item"><span>Empirical Economics</span><span>, Jan 9, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or ne...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. Alternatively, if we assume that inflation is a stationary process around a shifting mean (due to changes in monetary policy) then any estimate of long-run relationships in the data will suffer from a 'small-sample' problem as there are too few stationary inflation 'regimes'. Using the extensive literature on identification of structural breaks we identify inflation regimes which are used in turn to estimate with panel data techniques the United States long-run Phillips curve.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="441bc667c4ba77742acda81e4c65ca00" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088288,"asset_id":126170158,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088288/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170158"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170158"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170158; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170158]").text(description); $(".js-view-count[data-work-id=126170158]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170158; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170158']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170158, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "441bc667c4ba77742acda81e4c65ca00" } } $('.js-work-strip[data-work-id=126170158]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170158,"title":"Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve","translated_title":"","metadata":{"publisher":"Springer Science+Business Media","grobid_abstract":"'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. 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This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a357431b7871ea35bc058ea1bf220897" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383941,"asset_id":118859206,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383941/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859206"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859206"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859206; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859206]").text(description); $(".js-view-count[data-work-id=118859206]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859206; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859206']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859206, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a357431b7871ea35bc058ea1bf220897" } } $('.js-work-strip[data-work-id=118859206]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859206,"title":"‘Modern’ Phillips curves and the implications for the statistical process of inflation","translated_title":"","metadata":{"publisher":"Taylor \u0026 Francis","ai_title_tag":"'Modern' Phillips Curves and Inflation's Statistical Process","grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="62753cfe5d0093b313b0c8fb4e135294" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383953,"asset_id":118859203,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383953/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859203"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859203"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859203; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859203]").text(description); $(".js-view-count[data-work-id=118859203]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859203; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859203']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859203, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "62753cfe5d0093b313b0c8fb4e135294" } } $('.js-work-strip[data-work-id=118859203]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859203,"title":"Dundee Discussion Papers in Economics 289: 'Modern' phillips curves and the implications for the statistical process of inflation","translated_title":"","metadata":{"grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="118859201"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/118859201/Dundee_Discussion_Papers_in_Economics_294_Breaks_and_the_Statistical_Process_of_Inflation_The_Case_of_the_Modern_Phillips_Curve"><img alt="Research paper thumbnail of Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve" class="work-thumbnail" src="https://attachments.academia-assets.com/114383954/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/118859201/Dundee_Discussion_Papers_in_Economics_294_Breaks_and_the_Statistical_Process_of_Inflation_The_Case_of_the_Modern_Phillips_Curve">Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or ne...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. However, if we assume that inflation is a stationary process around a shifting mean (due to changes in monetary policy) then any estimate of long-run relationships will suffer from a 'small-sample' problem as there are too few inflation 'regimes' where the data are stationary. We offer a '4-stage' solution to this problem and applying this solution to United States data we estimate a significant negative sloping non-linear long-run Phillips curve.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="2f547335255d24eda6fb5e16425abc9a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383954,"asset_id":118859201,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383954/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859201"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859201"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859201; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859201]").text(description); $(".js-view-count[data-work-id=118859201]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859201; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859201']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859201, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "2f547335255d24eda6fb5e16425abc9a" } } $('.js-work-strip[data-work-id=118859201]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859201,"title":"Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve","translated_title":"","metadata":{"grobid_abstract":"'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. 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However, inflation appears bounded above and below in developed economies and so cannot be 'truly' integrated and more likely stationary around a shifting mean. If agents believe inflation is integrated as in the 'modern' theories then they are making systematic errors concerning the statistical process of inflation. An alternative theory of the Phillips curve is developed that is consistent with the 'true' statistical process of inflation. It is demonstrated that United States inflation data is consistent with the alternative theory but not with the existing 'modern' theories.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="f3ea272f934c3e11f78fbe9c2e9b9748" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383955,"asset_id":118859200,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383955/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859200"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859200"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859200; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859200]").text(description); $(".js-view-count[data-work-id=118859200]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859200; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859200']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859200, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "f3ea272f934c3e11f78fbe9c2e9b9748" } } $('.js-work-strip[data-work-id=118859200]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859200,"title":"Estimating United States Phillips Curves With Expectations Consistent With The Statistical Process Of Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"'Modern' Phillips curve theories predict inflation is an integrated, or near integrated, process. 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class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Non-stationary inflation and panel estimates of United States short and long-run Phillips curves....</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Non-stationary inflation and panel estimates of United States short and long-run Phillips curves. 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(Dundee Discussion Papers in Economics; No. 200). University of Dundee. General rights Copyright and moral rights for the publications made accessible in Discovery Research Portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from Discovery Research Portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain. • You may freely distribute the URL identifying the publication in the public portal. 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As a result we may expect the standard estimates of Phillips curves to be biased and suffer from ARCH. We demonstrate this is indeed the case. We also demonstrate that once the shifts in mean inflation are accounted for the ARCH is largely eliminated in the estimated model and the model defining expected rate of inflation in the New Keynesian model plays no significant role in the dynamics of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="b9cf226759fdbee99e3e54abe248a23f" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088312,"asset_id":126170178,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088312/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170178"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170178"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170178; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170178]").text(description); $(".js-view-count[data-work-id=126170178]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170178; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170178']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170178, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "b9cf226759fdbee99e3e54abe248a23f" } } $('.js-work-strip[data-work-id=126170178]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170178,"title":"ARCH and structural breaks in United States inflation","translated_title":"","metadata":{"publisher":"Taylor \u0026 Francis","grobid_abstract":"United States Phillips curves are routinely estimated without accounting for the shifts in mean inflation. 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As a result we may expect the standard estimates of Phillips curves to be biased and suffer from ARCH. We demonstrate this is indeed the case. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170177"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_"><img alt="Research paper thumbnail of Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*" class="work-thumbnail" src="https://attachments.academia-assets.com/120088311/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_">Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*</a></div><div class="wp-workCard_item"><span>The World Bank Economic Review</span><span>, 2012</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The standard approach to modelling the relationship between world and producer prices of coffee d...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. These changes have led to large structural breaks in the relationship between the prices implying the standard estimates are biased. We model coffee prices in Brazil, Guatemala and India allowing for the structural breaks and show that the liberalisation of coffee markets has benefited producers substantially both in terms of a higher share of the world price of coffee and higher real prices. This suggests that calls to re-regulate coffee markets may be misplaced.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c2e22e99be9aca10e47dccfbf9f8a371" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088311,"asset_id":126170177,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170177"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170177"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170177; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170177]").text(description); $(".js-view-count[data-work-id=126170177]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170177; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170177']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170177, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c2e22e99be9aca10e47dccfbf9f8a371" } } $('.js-work-strip[data-work-id=126170177]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170177,"title":"Coffee Market Liberalisation and the Implications for Producers in Brazil, Guatemala and India*","translated_title":"","metadata":{"publisher":"Oxford University Press","grobid_abstract":"The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. 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This suggests that calls to re-regulate coffee markets may be misplaced.","publication_date":{"day":null,"month":null,"year":2012,"errors":{}},"publication_name":"The World Bank Economic Review","grobid_abstract_attachment_id":120088311},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170177/Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_","translated_internal_url":"","created_at":"2024-12-08T16:06:20.815-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088311,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088311/thumbnails/1.jpg","file_name":"wber_26_3_514.pdf","download_url":"https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Coffee_Market_Liberalisation_and_the_Imp.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088311/wber_26_3_514-libre.pdf?1733705041=\u0026response-content-disposition=attachment%3B+filename%3DCoffee_Market_Liberalisation_and_the_Imp.pdf\u0026Expires=1733920951\u0026Signature=ZyU9E-Ubz~BJ9xmEAQ45TLDjFzvjenYXN56N2AswBLgFv6KttIlKb8yHa4z03~OelqgNNCrTbWKr3I1RHZKL5n1iovBfMRu6WM7ZIoZ76pZA83baETh9WoQ9141MEy5gfDidltWDS4NFziDMogFZ5WagH3xo9bTyUuh6VzPZ12f28w7-Sur5nwhB1a7R3wfwrOS0TxDaBNIRmkPqPVgOBld5xPkqOzD5682uEAN00fJ1R8VQM5M5LkJKnqeduzPbLjYqH34TCaAyqwMDQbkxQVJ6IGsFJI-bdIkcFtGFhoikkBXVzf8wmvE2d2lxZjSq7EM-DYk2yqMXo440mBe6Sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Coffee_Market_Liberalisation_and_the_Implications_for_Producers_in_Brazil_Guatemala_and_India_","translated_slug":"","page_count":25,"language":"en","content_type":"Work","summary":"The standard approach to modelling the relationship between world and producer prices of coffee does not incorporate the effects of changing government policies and market structures. These changes have led to large structural breaks in the relationship between the prices implying the standard estimates are biased. We model coffee prices in Brazil, Guatemala and India allowing for the structural breaks and show that the liberalisation of coffee markets has benefited producers substantially both in terms of a higher share of the world price of coffee and higher real prices. This suggests that calls to re-regulate coffee markets may be misplaced.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088311,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088311/thumbnails/1.jpg","file_name":"wber_26_3_514.pdf","download_url":"https://www.academia.edu/attachments/120088311/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Coffee_Market_Liberalisation_and_the_Imp.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088311/wber_26_3_514-libre.pdf?1733705041=\u0026response-content-disposition=attachment%3B+filename%3DCoffee_Market_Liberalisation_and_the_Imp.pdf\u0026Expires=1733920951\u0026Signature=ZyU9E-Ubz~BJ9xmEAQ45TLDjFzvjenYXN56N2AswBLgFv6KttIlKb8yHa4z03~OelqgNNCrTbWKr3I1RHZKL5n1iovBfMRu6WM7ZIoZ76pZA83baETh9WoQ9141MEy5gfDidltWDS4NFziDMogFZ5WagH3xo9bTyUuh6VzPZ12f28w7-Sur5nwhB1a7R3wfwrOS0TxDaBNIRmkPqPVgOBld5xPkqOzD5682uEAN00fJ1R8VQM5M5LkJKnqeduzPbLjYqH34TCaAyqwMDQbkxQVJ6IGsFJI-bdIkcFtGFhoikkBXVzf8wmvE2d2lxZjSq7EM-DYk2yqMXo440mBe6Sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":65590,"name":"Pesticide","url":"https://www.academia.edu/Documents/in/Pesticide"},{"id":353159,"name":"Crop","url":"https://www.academia.edu/Documents/in/Crop"},{"id":578704,"name":"Liberalization","url":"https://www.academia.edu/Documents/in/Liberalization"},{"id":896356,"name":"Commodity","url":"https://www.academia.edu/Documents/in/Commodity"}],"urls":[{"id":45978969,"url":"https://openknowledge.worldbank.org/bitstream/10986/19082/1/wber_26_3_514.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170176"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170176/Modern_Phillips_Curves_and_the_Implications_For_The_Statistical_Process_of_Inflation"><img alt="Research paper thumbnail of Modern' Phillips Curves and the Implications For The Statistical Process of Inflation" class="work-thumbnail" src="https://attachments.academia-assets.com/120088318/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170176/Modern_Phillips_Curves_and_the_Implications_For_The_Statistical_Process_of_Inflation">Modern' Phillips Curves and the Implications For The Statistical Process of Inflation</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Jun 1, 2015</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="67376c90ad75f27c6dedff32856cfc94" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088318,"asset_id":126170176,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088318/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170176"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170176"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170176; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170176]").text(description); $(".js-view-count[data-work-id=126170176]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170176; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170176']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170176, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "67376c90ad75f27c6dedff32856cfc94" } } $('.js-work-strip[data-work-id=126170176]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170176,"title":"Modern' Phillips Curves and the Implications For The Statistical Process of Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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Consequently, the estimates obtained are imprecise and are unable to distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a Phillips curve model taking into account the non-stationary properties in inflation and identify a small but significant positive relationship between inflation and unemployment. The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="55cd34a1edef351d18d2e3dc0c9da020" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088319,"asset_id":126170175,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170175"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170175"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170175; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170175]").text(description); $(".js-view-count[data-work-id=126170175]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170175; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170175']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170175, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "55cd34a1edef351d18d2e3dc0c9da020" } } $('.js-work-strip[data-work-id=126170175]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170175,"title":"The Long-Run Phillips Curve and Non-Stationary Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques that ignore the non-stationary behaviour of inflation. 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The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.","publication_date":{"day":null,"month":null,"year":2006,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088319},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170175/The_Long_Run_Phillips_Curve_and_Non_Stationary_Inflation","translated_internal_url":"","created_at":"2024-12-08T16:06:20.102-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088319,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088319/thumbnails/1.jpg","file_name":"7371501.pdf","download_url":"https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_Long_Run_Phillips_Curve_and_Non_Stat.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088319/7371501-libre.pdf?1733705057=\u0026response-content-disposition=attachment%3B+filename%3DThe_Long_Run_Phillips_Curve_and_Non_Stat.pdf\u0026Expires=1733920951\u0026Signature=BZufhabD3e-iNBbHHw5nmyUNctyGkcZlP5Vz8ScvMDH89EfxFVS3mAlQL1ohslnlmWyVpPxe69u9uEb8UMIJKbquitOd6cW9lhuYeYN595e1n-pEBeEwYZ09ZkBzmF-QIMajOcgMWumBlf8eYrIVyR5OF4xbs6x~N6sFrljV~-kBssjWEef-lZe9yjTcosPPOGfiB3Lg1bs~jt18aQaTxaPDQJ59FDU3VDk5QIOS6LspZ2IkytYVhFl3HE3xruz9zMboQaexJ6qGskv-~UL07Q54ZLkJsAi6tixPkjX7EcjA7mK7x4RmGTQzzdM0rDNvZibGxMSK2LZIvHhzwhhKYQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_Long_Run_Phillips_Curve_and_Non_Stationary_Inflation","translated_slug":"","page_count":32,"language":"en","content_type":"Work","summary":"Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques that ignore the non-stationary behaviour of inflation. Consequently, the estimates obtained are imprecise and are unable to distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a Phillips curve model taking into account the non-stationary properties in inflation and identify a small but significant positive relationship between inflation and unemployment. The results provide some evidence that the trade-off between inflation and the unemployment rate in the short-run worsens as the mean rate of inflation increases.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088319,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088319/thumbnails/1.jpg","file_name":"7371501.pdf","download_url":"https://www.academia.edu/attachments/120088319/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_Long_Run_Phillips_Curve_and_Non_Stat.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088319/7371501-libre.pdf?1733705057=\u0026response-content-disposition=attachment%3B+filename%3DThe_Long_Run_Phillips_Curve_and_Non_Stat.pdf\u0026Expires=1733920951\u0026Signature=BZufhabD3e-iNBbHHw5nmyUNctyGkcZlP5Vz8ScvMDH89EfxFVS3mAlQL1ohslnlmWyVpPxe69u9uEb8UMIJKbquitOd6cW9lhuYeYN595e1n-pEBeEwYZ09ZkBzmF-QIMajOcgMWumBlf8eYrIVyR5OF4xbs6x~N6sFrljV~-kBssjWEef-lZe9yjTcosPPOGfiB3Lg1bs~jt18aQaTxaPDQJ59FDU3VDk5QIOS6LspZ2IkytYVhFl3HE3xruz9zMboQaexJ6qGskv-~UL07Q54ZLkJsAi6tixPkjX7EcjA7mK7x4RmGTQzzdM0rDNvZibGxMSK2LZIvHhzwhhKYQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics"},{"id":6208,"name":"Economic Theory","url":"https://www.academia.edu/Documents/in/Economic_Theory"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":39039,"name":"Keynesian Economics","url":"https://www.academia.edu/Documents/in/Keynesian_Economics"},{"id":294059,"name":"Phillips curve","url":"https://www.academia.edu/Documents/in/Phillips_curve"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1370085,"name":"Inflation Rate","url":"https://www.academia.edu/Documents/in/Inflation_Rate"},{"id":3623091,"name":"Misery Index","url":"https://www.academia.edu/Documents/in/Misery_Index"}],"urls":[{"id":45978967,"url":"https://econpapers.repec.org/paper/euieuiwps/eco2006_2f16.htm"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170174"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy"><img alt="Research paper thumbnail of Non-stationary inflation and the markup: an overview of the research and some implications for policy" class="work-thumbnail" src="https://attachments.academia-assets.com/120088310/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy">Non-stationary inflation and the markup: an overview of the research and some implications for policy</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Aug 1, 2006</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper reports on research into the negative relationship between inflation and the markup. I...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper reports on research into the negative relationship between inflation and the markup. It is argued that this relationship can be thought of as 'long-run' in nature which suggests that inflation has a persistent effect on the markup and, therefore, the real wage. A 'rule of thumb' from the estimates indicate that a 10 percentage point increase in inflation (as occurred worldwide in the 1970s) is associated with around a 7 per cent fall in the markup accompanied by a similar increase in the real wage. It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="392a876118140997ee7facb9decb6e73" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088310,"asset_id":126170174,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170174"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170174"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170174; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170174]").text(description); $(".js-view-count[data-work-id=126170174]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170174; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170174']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170174, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "392a876118140997ee7facb9decb6e73" } } $('.js-work-strip[data-work-id=126170174]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170174,"title":"Non-stationary inflation and the markup: an overview of the research and some implications for policy","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper reports on research into the negative relationship between inflation and the markup. 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It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.","publication_date":{"day":1,"month":8,"year":2006,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088310},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170174/Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy","translated_internal_url":"","created_at":"2024-12-08T16:06:19.748-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088310,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088310/thumbnails/1.jpg","file_name":"DDPE_191.pdf","download_url":"https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Non_stationary_inflation_and_the_markup.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088310/DDPE_191-libre.pdf?1733705055=\u0026response-content-disposition=attachment%3B+filename%3DNon_stationary_inflation_and_the_markup.pdf\u0026Expires=1733920951\u0026Signature=OvOY3V~lcXi5RyKXmSxl~~UjBU~-dnuMAa-rzj2Fh-C8kQ2MOumEsBVkymGrr9YjqcDtOKMcnTqDKsv6xOlSZxFG8FreQPvjHbwxXcBU3zB8O2keseHgBpI1DlDMrrttTFXkfWLPPivmtf8d5Kes9x3xT54oQyoFdUEoSQw7BSHldbxHVB0RQOjS8FNYKHbdESL~OXDBPY0b5uihcq-uqJQS1cI5OyywGhdSDdS69AKLlPPL3o9HuCsP9ERQXMwbeklur-mzITe69reS5c60t0lJuVumVRIy~iM29mQHAeykIYbTfw4~lOCc1fUD0N-k~qz2ppOpyQHtFRZwm4wSRA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Non_stationary_inflation_and_the_markup_an_overview_of_the_research_and_some_implications_for_policy","translated_slug":"","page_count":31,"language":"en","content_type":"Work","summary":"This paper reports on research into the negative relationship between inflation and the markup. 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It is argued that movements of this magnitude in the markup and the real wage will have important implications for a range of economic outcomes such as unemployment, employment and investment.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088310,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088310/thumbnails/1.jpg","file_name":"DDPE_191.pdf","download_url":"https://www.academia.edu/attachments/120088310/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1MSw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Non_stationary_inflation_and_the_markup.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088310/DDPE_191-libre.pdf?1733705055=\u0026response-content-disposition=attachment%3B+filename%3DNon_stationary_inflation_and_the_markup.pdf\u0026Expires=1733920951\u0026Signature=OvOY3V~lcXi5RyKXmSxl~~UjBU~-dnuMAa-rzj2Fh-C8kQ2MOumEsBVkymGrr9YjqcDtOKMcnTqDKsv6xOlSZxFG8FreQPvjHbwxXcBU3zB8O2keseHgBpI1DlDMrrttTFXkfWLPPivmtf8d5Kes9x3xT54oQyoFdUEoSQw7BSHldbxHVB0RQOjS8FNYKHbdESL~OXDBPY0b5uihcq-uqJQS1cI5OyywGhdSDdS69AKLlPPL3o9HuCsP9ERQXMwbeklur-mzITe69reS5c60t0lJuVumVRIy~iM29mQHAeykIYbTfw4~lOCc1fUD0N-k~qz2ppOpyQHtFRZwm4wSRA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":16475,"name":"Competition","url":"https://www.academia.edu/Documents/in/Competition"},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy"},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation"},{"id":393160,"name":"Prices","url":"https://www.academia.edu/Documents/in/Prices"},{"id":416920,"name":"Wages","url":"https://www.academia.edu/Documents/in/Wages"},{"id":609969,"name":"Wage","url":"https://www.academia.edu/Documents/in/Wage"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1471386,"name":"Extensible Markup Language","url":"https://www.academia.edu/Documents/in/Extensible_Markup_Language"},{"id":2530317,"name":"Rule-Of-Thumb","url":"https://www.academia.edu/Documents/in/Rule-Of-Thumb"},{"id":4111391,"name":"Markup","url":"https://www.academia.edu/Documents/in/Markup"}],"urls":[{"id":45978966,"url":"https://discovery.dundee.ac.uk/ws/files/107283/DDPE_191.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170173"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170173/Modelling_thirty_five_years_of_coffee_prices_in_Brazil_Guatemala_and_India"><img alt="Research paper thumbnail of Modelling thirty five years of coffee prices in Brazil, Guatemala and India" class="work-thumbnail" src="https://attachments.academia-assets.com/120088308/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170173/Modelling_thirty_five_years_of_coffee_prices_in_Brazil_Guatemala_and_India">Modelling thirty five years of coffee prices in Brazil, Guatemala and India</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Dec 1, 2008</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Over the past thirty five years coffee markets have been subject to market controls and regulatio...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Over the past thirty five years coffee markets have been subject to market controls and regulations culminating in the liberalisation of coffee markets in the early 1990s. This paper models the relationship between the producers' and world prices of coffee in Brazil, Guatemala and India allowing for the effects of changes in market structures. We find that liberalisation has benefited producers substantially in terms of higher real coffee prices and a higher share of the world price of coffee.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="df2afd1d04b5407a96b87dbde4c9eac7" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088308,"asset_id":126170173,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088308/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170173"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170173"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170173; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170173]").text(description); $(".js-view-count[data-work-id=126170173]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170173; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170173']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170173, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "df2afd1d04b5407a96b87dbde4c9eac7" } } $('.js-work-strip[data-work-id=126170173]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170173,"title":"Modelling thirty five years of coffee prices in Brazil, Guatemala and India","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"Over the past thirty five years coffee markets have been subject to market controls and regulations culminating in the liberalisation of coffee markets in the early 1990s. 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This paper models the relationship between the producers' and world prices of coffee in Brazil, Guatemala and India allowing for the effects of changes in market structures. We find that liberalisation has benefited producers substantially in terms of higher real coffee prices and a higher share of the world price of coffee.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088308,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088308/thumbnails/1.jpg","file_name":"DDPE_221.pdf","download_url":"https://www.academia.edu/attachments/120088308/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"Modelling_thirty_five_years_of_coffee_pr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088308/DDPE_221-libre.pdf?1733705048=\u0026response-content-disposition=attachment%3B+filename%3DModelling_thirty_five_years_of_coffee_pr.pdf\u0026Expires=1733920952\u0026Signature=CjC2vu4QwdASQJ9HNjd5KqYs-atGL285SGlBJDQkIWE-se~63b7ZrXWyHJR6zMXTM08niTfTza8j58KuPgcgoWHT8~yG~CEzFe9CKz8jQ-fH4~Kh7YvLfEJbxwRuRtOeBnok2ObleDDEenuBzwFAoHf9wd73bMLyxKwJOfTaL-viRPrW388QT2PLetMxQ2aSARd7riebRRH0UI1TeKbSiSYe7zRkbiXqv1CALvwdmNC8Esqmbimz8F0bF2t8kV-mV4i2dE~lH2ldxw~MGvSoRI4aqDVA0lUQ2KUeX20WttSvHhtzzT7MoQNYQbjjJRRp2BztXj8LKTh8Ae80BbGMig__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":120088309,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088309/thumbnails/1.jpg","file_name":"DDPE_221.pdf","download_url":"https://www.academia.edu/attachments/120088309/download_file","bulk_download_file_name":"Modelling_thirty_five_years_of_coffee_pr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088309/DDPE_221-libre.pdf?1733705050=\u0026response-content-disposition=attachment%3B+filename%3DModelling_thirty_five_years_of_coffee_pr.pdf\u0026Expires=1733920952\u0026Signature=Y0VgfXql98hKwW5A-LwKg1sNBOmO4EmNWa1hGTgvE~cJRQdHN5sCTKgOM27R4gnGkMui~0WEfoXStK95AEQQfohw8hBmf74o4AHpsbChvPpApnZ5uz1U02k8nWlOWuMdTziuC0bci-rT7IzHCRG4QgXIo9lSkKyFh2q~uBSJu~PdyjyrXr4Y1vpz6gk8IVVYPfBtRFYPQQDhWKPBNpL9fw0O7WCfaosXjHCi3NIJrZkvHK5uYNF-hi4bg4uRDgKahNnk1d0ijUWyDpfawlZk5aZoZ4biMXp~xPWl-I6U8y5AhJKdV2EAe-KFAeczhBbtC6dE4mPn91RJNIq5zTP0sg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":7312,"name":"Agricultural Economics","url":"https://www.academia.edu/Documents/in/Agricultural_Economics"},{"id":13242,"name":"Market Structure","url":"https://www.academia.edu/Documents/in/Market_Structure"},{"id":136198,"name":"Liberalisation","url":"https://www.academia.edu/Documents/in/Liberalisation"},{"id":176461,"name":"Cointegration","url":"https://www.academia.edu/Documents/in/Cointegration"},{"id":578704,"name":"Liberalization","url":"https://www.academia.edu/Documents/in/Liberalization"}],"urls":[{"id":45978965,"url":"https://discovery.dundee.ac.uk/ws/files/108281/DDPE_221.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170172"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup"><img alt="Research paper thumbnail of The long run relationship among price variability, inflation and the markup" class="work-thumbnail" src="https://attachments.academia-assets.com/120088307/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup">The long run relationship among price variability, inflation and the markup</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Aug 1, 2002</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper links two existing but separate literatures. Measures of the markup, inflation and rel...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper links two existing but separate literatures. Measures of the markup, inflation and relative price variability (RPV) from annual and quarterly US and UK data are used to examine the relationships among the variables. The results show that two long-run relationships can be identified from the data: a negative relationship between inflation and the markup and a positive relationship between inflation and RPV. As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="91428e9e04e7b622bb8c5936b08fb889" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088307,"asset_id":126170172,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170172"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170172"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170172; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170172]").text(description); $(".js-view-count[data-work-id=126170172]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170172; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170172']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170172, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "91428e9e04e7b622bb8c5936b08fb889" } } $('.js-work-strip[data-work-id=126170172]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170172,"title":"The long run relationship among price variability, inflation and the markup","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper links two existing but separate literatures. 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As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.","publication_date":{"day":1,"month":8,"year":2002,"errors":{}},"publication_name":"RePEc: Research Papers in Economics","grobid_abstract_attachment_id":120088307},"translated_abstract":null,"internal_url":"https://www.academia.edu/126170172/The_long_run_relationship_among_price_variability_inflation_and_the_markup","translated_internal_url":"","created_at":"2024-12-08T16:06:19.012-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":32409764,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":120088307,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088307/thumbnails/1.jpg","file_name":"DDPE_127.pdf","download_url":"https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_long_run_relationship_among_price_va.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088307/DDPE_127-libre.pdf?1733705064=\u0026response-content-disposition=attachment%3B+filename%3DThe_long_run_relationship_among_price_va.pdf\u0026Expires=1733920952\u0026Signature=bjfO8RfIPKZi81mMASGfaADPmnhOqdQIxfZv4NvWfo~Lr1jnGA6OGMPAAkXYifDD1JZ78Isn8OsZSVG2Sc1pzZB6EvpLU8Lx6PA-k64cGOb5ObkOS0yjvj~VThOumRQop~FaBAiT6v2hY09haM8H~8uOiUJkWCyMGdbgKg1V2XpREqOdl2lPYHM3JN23Rh4BCPrBt-e1GrYjYkiwCslG0kYex76ce0oXQ1-2jKQ6JahFNTSRSMGr6qY9StcSEKNS0YfPDWsDLFLkuhzUje7uS11YxfqWlMneziiwYh6rzKOS1iZ5RK~xB9f11zSqF9LPrWRYtCn30IaGXP58sZwCGw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_long_run_relationship_among_price_variability_inflation_and_the_markup","translated_slug":"","page_count":46,"language":"en","content_type":"Work","summary":"This paper links two existing but separate literatures. Measures of the markup, inflation and relative price variability (RPV) from annual and quarterly US and UK data are used to examine the relationships among the variables. The results show that two long-run relationships can be identified from the data: a negative relationship between inflation and the markup and a positive relationship between inflation and RPV. As RPV does not enter the inflation-markup long-run relationship we argue that explanations of this relationship based on RPV are poor even though they may help explain a short-run relationship between the variables.","owner":{"id":32409764,"first_name":"Bill","middle_initials":null,"last_name":"Russell","page_name":"BillRussell","domain_name":"dundee","created_at":"2015-06-21T16:39:09.117-07:00","display_name":"Bill Russell","url":"https://dundee.academia.edu/BillRussell"},"attachments":[{"id":120088307,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/120088307/thumbnails/1.jpg","file_name":"DDPE_127.pdf","download_url":"https://www.academia.edu/attachments/120088307/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&","bulk_download_file_name":"The_long_run_relationship_among_price_va.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/120088307/DDPE_127-libre.pdf?1733705064=\u0026response-content-disposition=attachment%3B+filename%3DThe_long_run_relationship_among_price_va.pdf\u0026Expires=1733920952\u0026Signature=bjfO8RfIPKZi81mMASGfaADPmnhOqdQIxfZv4NvWfo~Lr1jnGA6OGMPAAkXYifDD1JZ78Isn8OsZSVG2Sc1pzZB6EvpLU8Lx6PA-k64cGOb5ObkOS0yjvj~VThOumRQop~FaBAiT6v2hY09haM8H~8uOiUJkWCyMGdbgKg1V2XpREqOdl2lPYHM3JN23Rh4BCPrBt-e1GrYjYkiwCslG0kYex76ce0oXQ1-2jKQ6JahFNTSRSMGr6qY9StcSEKNS0YfPDWsDLFLkuhzUje7uS11YxfqWlMneziiwYh6rzKOS1iZ5RK~xB9f11zSqF9LPrWRYtCn30IaGXP58sZwCGw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":639390,"name":"Inflation Cosmology","url":"https://www.academia.edu/Documents/in/Inflation_Cosmology"},{"id":1471386,"name":"Extensible Markup Language","url":"https://www.academia.edu/Documents/in/Extensible_Markup_Language"}],"urls":[{"id":45978964,"url":"https://discovery.dundee.ac.uk/ws/files/106373/DDPE_127.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170171"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170171/Australian_Wage_and_Price_Inflation_1971_1994"><img alt="Research paper thumbnail of Australian Wage and Price Inflation: 1971-1994" class="work-thumbnail" src="https://attachments.academia-assets.com/120088306/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170171/Australian_Wage_and_Price_Inflation_1971_1994">Australian Wage and Price Inflation: 1971-1994</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Nov 1, 1995</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper estimates an imperfect competition model of price and wage adjustment for Australia. T...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper estimates an imperfect competition model of price and wage adjustment for Australia. The results suggest the Australian economy can be characterised as one where firms are trying to achieve their desired long-run income share while workers are primarily concerned with maintaining their real wage. The estimation of the price-wage model is complicated by two problems; namely the substantial and persistent changes in income shares and the changing means in the inflation series over the sample. The first problem was overcome by extending the estimation period to include the wage shocks in the early 1970s which allows the income shares to be characterised as stationary. The second problem was addressed by imposing a restriction to the wage equation. This allowed a range of possible steady state inflation rates in the model over the estimated sample.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="b9efea261ebbf60130cbe50c44d98808" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088306,"asset_id":126170171,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088306/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170171"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170171"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170171; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170171]").text(description); $(".js-view-count[data-work-id=126170171]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170171; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170171']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170171, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "b9efea261ebbf60130cbe50c44d98808" } } $('.js-work-strip[data-work-id=126170171]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170171,"title":"Australian Wage and Price Inflation: 1971-1994","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper estimates an imperfect competition model of price and wage adjustment for Australia. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170170"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170170/Towards_an_Understanding_of_Australia_s_Co_movement_with_Foreign_Business_Cycles"><img alt="Research paper thumbnail of Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles" class="work-thumbnail" src="https://attachments.academia-assets.com/120088304/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170170/Towards_an_Understanding_of_Australia_s_Co_movement_with_Foreign_Business_Cycles">Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles</a></div><div class="wp-workCard_item"><span>RePEc: Research Papers in Economics</span><span>, Nov 1, 1996</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper identifies two transmission mechanisms which might contribute to explaining the well-d...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper identifies two transmission mechanisms which might contribute to explaining the well-documented correlation between Australian and foreign business cycles. The first is through exports. We find that the US and Japan have a high output elasticity of demand for Australia's exports. Consequently, their business cycles have a larger impact on Australia's exports than that suggested by their market shares. The second mechanism is through the share market. Both the US and Australian share markets appear to have a significant impact on Australian activity. Evidence is also found that the responses of investment to the share market in the two countries are remarkably similar. Given that the share markets are highly correlated, the similarity in response lags may help to explain the correlation in business cycles.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="470aabebeeceaa4ae676c6a66c76956a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088304,"asset_id":126170170,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088304/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170170"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170170"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170170; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170170]").text(description); $(".js-view-count[data-work-id=126170170]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170170; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170170']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170170, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "470aabebeeceaa4ae676c6a66c76956a" } } $('.js-work-strip[data-work-id=126170170]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170170,"title":"Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"This paper identifies two transmission mechanisms which might contribute to explaining the well-documented correlation between Australian and foreign business cycles. 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The first is through exports. We find that the US and Japan have a high output elasticity of demand for Australia's exports. Consequently, their business cycles have a larger impact on Australia's exports than that suggested by their market shares. The second mechanism is through the share market. Both the US and Australian share markets appear to have a significant impact on Australian activity. Evidence is also found that the responses of investment to the share market in the two countries are remarkably similar. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="126170158"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/126170158/Breaks_and_the_statistical_process_of_inflation_the_case_of_estimating_the_modern_long_run_Phillips_curve"><img alt="Research paper thumbnail of Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve" class="work-thumbnail" src="https://attachments.academia-assets.com/120088288/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/126170158/Breaks_and_the_statistical_process_of_inflation_the_case_of_estimating_the_modern_long_run_Phillips_curve">Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve</a></div><div class="wp-workCard_item"><span>Empirical Economics</span><span>, Jan 9, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or ne...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. Alternatively, if we assume that inflation is a stationary process around a shifting mean (due to changes in monetary policy) then any estimate of long-run relationships in the data will suffer from a 'small-sample' problem as there are too few stationary inflation 'regimes'. Using the extensive literature on identification of structural breaks we identify inflation regimes which are used in turn to estimate with panel data techniques the United States long-run Phillips curve.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="441bc667c4ba77742acda81e4c65ca00" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":120088288,"asset_id":126170158,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/120088288/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="126170158"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="126170158"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 126170158; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=126170158]").text(description); $(".js-view-count[data-work-id=126170158]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 126170158; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='126170158']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 126170158, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "441bc667c4ba77742acda81e4c65ca00" } } $('.js-work-strip[data-work-id=126170158]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":126170158,"title":"Breaks and the statistical process of inflation: the case of estimating the ‘modern’ long-run Phillips curve","translated_title":"","metadata":{"publisher":"Springer Science+Business Media","grobid_abstract":"'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. 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This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a357431b7871ea35bc058ea1bf220897" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383941,"asset_id":118859206,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383941/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859206"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859206"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859206; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859206]").text(description); $(".js-view-count[data-work-id=118859206]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859206; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859206']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859206, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a357431b7871ea35bc058ea1bf220897" } } $('.js-work-strip[data-work-id=118859206]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859206,"title":"‘Modern’ Phillips curves and the implications for the statistical process of inflation","translated_title":"","metadata":{"publisher":"Taylor \u0026 Francis","ai_title_tag":"'Modern' Phillips Curves and Inflation's Statistical Process","grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly known about the statistical process of inflation.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="62753cfe5d0093b313b0c8fb4e135294" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383953,"asset_id":118859203,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383953/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859203"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859203"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859203; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859203]").text(description); $(".js-view-count[data-work-id=118859203]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859203; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859203']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859203, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "62753cfe5d0093b313b0c8fb4e135294" } } $('.js-work-strip[data-work-id=118859203]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859203,"title":"Dundee Discussion Papers in Economics 289: 'Modern' phillips curves and the implications for the statistical process of inflation","translated_title":"","metadata":{"grobid_abstract":"'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated' process. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="118859201"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/118859201/Dundee_Discussion_Papers_in_Economics_294_Breaks_and_the_Statistical_Process_of_Inflation_The_Case_of_the_Modern_Phillips_Curve"><img alt="Research paper thumbnail of Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve" class="work-thumbnail" src="https://attachments.academia-assets.com/114383954/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/118859201/Dundee_Discussion_Papers_in_Economics_294_Breaks_and_the_Statistical_Process_of_Inflation_The_Case_of_the_Modern_Phillips_Curve">Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or ne...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. However, if we assume that inflation is a stationary process around a shifting mean (due to changes in monetary policy) then any estimate of long-run relationships will suffer from a 'small-sample' problem as there are too few inflation 'regimes' where the data are stationary. We offer a '4-stage' solution to this problem and applying this solution to United States data we estimate a significant negative sloping non-linear long-run Phillips curve.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="2f547335255d24eda6fb5e16425abc9a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383954,"asset_id":118859201,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383954/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859201"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859201"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859201; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859201]").text(description); $(".js-view-count[data-work-id=118859201]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859201; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859201']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859201, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "2f547335255d24eda6fb5e16425abc9a" } } $('.js-work-strip[data-work-id=118859201]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859201,"title":"Dundee Discussion Papers in Economics 294: Breaks and the Statistical Process of Inflation: The Case of the 'Modern' Phillips Curve","translated_title":"","metadata":{"grobid_abstract":"'Modern' theories of the Phillips curve inadvertently imply that inflation is an integrated or near integrated process but this implication is strongly rejected using United States data. 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However, inflation appears bounded above and below in developed economies and so cannot be 'truly' integrated and more likely stationary around a shifting mean. If agents believe inflation is integrated as in the 'modern' theories then they are making systematic errors concerning the statistical process of inflation. An alternative theory of the Phillips curve is developed that is consistent with the 'true' statistical process of inflation. It is demonstrated that United States inflation data is consistent with the alternative theory but not with the existing 'modern' theories.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="f3ea272f934c3e11f78fbe9c2e9b9748" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":114383955,"asset_id":118859200,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/114383955/download_file?st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&st=MTczMzkxNzM1Miw4LjIyMi4yMDguMTQ2&s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="118859200"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span><span id="work-strip-rankings-button-container"></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="118859200"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 118859200; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=118859200]").text(description); $(".js-view-count[data-work-id=118859200]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 118859200; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='118859200']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span><span><script>$(function() { new Works.PaperRankView({ workId: 118859200, container: "", }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-f77ea15d77ce96025a6048a514272ad8becbad23c641fc2b3bd6e24ca6ff1932.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "f3ea272f934c3e11f78fbe9c2e9b9748" } } $('.js-work-strip[data-work-id=118859200]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":118859200,"title":"Estimating United States Phillips Curves With Expectations Consistent With The Statistical Process Of Inflation","translated_title":"","metadata":{"publisher":"RePEc: Research Papers in Economics","grobid_abstract":"'Modern' Phillips curve theories predict inflation is an integrated, or near integrated, process. 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