The All‐Gap Phillips Curve
研究了全缺口菲利普斯曲线，即用预期通胀和产出或失业率缺口解释通胀，并在理性预期假设下识别参数，发现美英加三国的斜率符号符合预期，但理性预期限制缺乏支持。
Abstract The all‐gap Phillips curve (PC) explains inflation by expected inflation and an activity variable such as output or the unemployment rate, but with both inflation and the activity variable measured relative to their stochastic trends and thus as gaps. We study this relationship with minimal auxiliary assumptions and under rational expectations (RE). We show restrictions on an unobserved components model that identify the PC parameters, first with an autonomous output gap and second with output and inflation gaps following a VAR. For the United States, United Kingdom, and Canada both cases yield all‐gap PCs with slopes of the expected signs, but there is little support for the restrictions implied by RE.