Peter Dixon wrote a nice piece about my work …
To which I responded ….
David Glasner weighs in with the view that the Phillips Curve is not a structural relationship.
Here is my response.
And Stephen Williamson and Jorge Miranda-Pinto tell us that they have not been teaching the Phillips Curve as a structural equation for some time.
What are macroeconomists currently teaching their students? Time to teach a credible alternative to the NK Phillips Curve.
Here is me responding to David Glasner …
In the following tweet, David responds using the language of the outdated IS-LM model.
As I explain below …, this is not a good answer.
David sees IS-LM as a ‘convenience’ …
I want more. I want to see what’s under the hood. This is what’s under my hood … the IS-LM-NAC model and how to use it ….