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Yolanda K. Kodrzycki

Yolanda Kodrzycki is an economist in the Research Department at the Federal Reserve Bank of Boston.

Titles by This Editor

A Phillips Curve Retrospective

In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today’s Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then.