Wednesday, September 29, 2010
Classroom Lesson: The Phillips Curve
Here is something I lifted from an old PowerPoint presentation created by Mike Bryan (currently at the Atlanta Fed). Mike is an astute economist with a wonderful sense of humor (how rare is that these days?). These few slides (part of a longer presentation) deal with the Phillips Curve. The file is available here: Orion.
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Ya know, if you were to shoot a linear regression line through that as a cross-section (and I don't suggest it) the relationship would be positive.
ReplyDeleteBtw, that's my favorite part of your textbook - where you talk about historical trends and making too much of them. When I teach that to my finance students, they get all flustered. "What are we supposed to do with historical data?" Really quite amusing how binary the thinking is.
Hilarious.
ReplyDeleteWhat would Mr. Krugman or Mr. Taleb do with this?