Can Neo-Fisherism be the new foundation for inflation control? Yes, argues Stephen Williamson in this paper and shows how both a New Keynesian model and a segmented markets model do have neo-Fisherian properties.
The US Phillips curve
The US Phillips curve
Year-over-year headline PCE inflation vs. the difference between the unemployment rate and the Congressional Budget Office’s measure of the natural rate of unemployment
Source: Lael Brainard: Phillips Curve Confusion
Infation Control: Do Central Bankers Have It Right?
Author:Stephen Williamson
From: Federal Reserve Bank of St. Louis
