In a lecture, Fed Chair Janet Yellen remarked: The Phillips-curve approach to forecasting inflation has a long

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In a lecture, Fed Chair Janet Yellen remarked:
“The Phillips-curve approach to forecasting inflation has a long history in economics, and it has usefully informed monetary policy decision making around the globe.” How might an economist use the Phillips curve to forecast inflation?

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Money, Banking, and the Financial System

ISBN: 978-0134524061

3rd edition

Authors: R. Glenn Hubbard, Anthony Patrick O'Brien

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