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Meaning of "Phillips curve" in the English dictionary

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ETYMOLOGY OF THE WORD PHILLIPS CURVE

Named after A. W. H. Phillips (1914–75), New Zealand economist who formulated the theory.
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Etymology is the study of the origin of words and their changes in structure and significance.
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PRONUNCIATION OF PHILLIPS CURVE

Phillips curve play
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GRAMMATICAL CATEGORY OF PHILLIPS CURVE

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Phillips curve is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES PHILLIPS CURVE MEAN IN ENGLISH?

Phillips curve

Phillips curve

In economics, the Phillips curve is a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result in an economy. Stated simply, decreased unemployment, in an economy will correlate with higher rates of inflation. While there is a short run tradeoff between unemployment and inflation, it has not been observed in the long run. In 1968, Milton Friedman asserted that the Phillips Curve was only applicable in the short-run and that in the long-run, inflationary policies will not decrease unemployment. Friedman then correctly predicted that, in the upcoming years after 1968, both inflation and unemployment would increase. The long-run Phillips Curve is now seen as a vertical line at the natural rate of unemployment, where the rate of inflation has no effect on unemployment. Accordingly, the Phillips curve is now seen as too simplistic, with the unemployment rate supplanted by more accurate predictors of inflation based on velocity of money supply measures such as the MZM velocity, which is affected by unemployment in the short but not the long term.

Definition of Phillips curve in the English dictionary

The definition of Phillips curve in the dictionary is a curve that purports to plot the relationship between unemployment and inflation on the theory that as inflation falls unemployment rises and vice versa.

WORDS THAT BEGIN LIKE PHILLIPS CURVE

Philippics
philippina
Philippine
Philippine mahogany
Philippine Sea
Philippines
Philippopolis
Philistia
Philistian
Philistine
Philistinism
Phillip
Phillips
Phillips screw
Phillips screwdriver
phillipsite
phillumenist
phillumeny
Philo Judaeus
Philoctetes

WORDS THAT END LIKE PHILLIPS CURVE

adoption curve
ahead of the curve
behind the curve
characteristic curve
curve
decurve
French curve
growth curve
hairpin curve
incurve
L-shaped curve
Laffer curve
learning curve
lurve
normal curve
outcurve
recurve
RIAA curve
sine curve
upcurve
V-shaped curve

Synonyms and antonyms of Phillips curve in the English dictionary of synonyms

SYNONYMS

Translation of «Phillips curve» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF PHILLIPS CURVE

Find out the translation of Phillips curve to 25 languages with our English multilingual translator.
The translations of Phillips curve from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «Phillips curve» in English.

Translator English - Chinese

菲利普斯曲线
1,325 millions of speakers

Translator English - Spanish

curva de Phillips
570 millions of speakers

English

Phillips curve
510 millions of speakers

Translator English - Hindi

फिलिप्स वक्र
380 millions of speakers
ar

Translator English - Arabic

منحنى فيليبس
280 millions of speakers

Translator English - Russian

кривая Филлипса
278 millions of speakers

Translator English - Portuguese

curva de Phillips
270 millions of speakers

Translator English - Bengali

ফিলিপস বক্ররেখা
260 millions of speakers

Translator English - French

courbe de Phillips
220 millions of speakers

Translator English - Malay

Keluk Phillips
190 millions of speakers

Translator English - German

Phillips-Kurve
180 millions of speakers

Translator English - Japanese

フィリップス曲線
130 millions of speakers

Translator English - Korean

필립스 곡선
85 millions of speakers

Translator English - Javanese

Kurva Phillips
85 millions of speakers
vi

Translator English - Vietnamese

đường cong Phillips
80 millions of speakers

Translator English - Tamil

பிலிப்ஸ் வளைவு
75 millions of speakers

Translator English - Marathi

फिलिप्स वक्र
75 millions of speakers

Translator English - Turkish

Eğri eğrisi
70 millions of speakers

Translator English - Italian

curva di Phillips
65 millions of speakers

Translator English - Polish

krzywej Phillipsa
50 millions of speakers

Translator English - Ukrainian

крива Філіпса
40 millions of speakers

Translator English - Romanian

curba Phillips
30 millions of speakers
el

Translator English - Greek

καμπύλη Phillips
15 millions of speakers
af

Translator English - Afrikaans

Phillips -kurwe
14 millions of speakers
sv

Translator English - Swedish

Phillipskurvan
10 millions of speakers
no

Translator English - Norwegian

Phillips -kurven
5 millions of speakers

Trends of use of Phillips curve

TRENDS

TENDENCIES OF USE OF THE TERM «PHILLIPS CURVE»

The term «Phillips curve» is regularly used and occupies the 108.111 position in our list of most widely used terms in the English dictionary.
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FREQUENCY
Regularly used
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The map shown above gives the frequency of use of the term «Phillips curve» in the different countries.
Principal search tendencies and common uses of Phillips curve
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «Phillips curve».

FREQUENCY OF USE OF THE TERM «PHILLIPS CURVE» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «Phillips curve» during the past 500 years. Its implementation is based on analysing how often the term «Phillips curve» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about Phillips curve

EXAMPLES

10 ENGLISH BOOKS RELATING TO «PHILLIPS CURVE»

Discover the use of Phillips curve in the following bibliographical selection. Books relating to Phillips curve and brief extracts from same to provide context of its use in English literature.
1
Inflation, Unemployment and Money: Interpretations of the ...
This text presents a reconstruction of the different interpretations of the Phillips curve.
Bruno Jossa, Marco Musella, 1998
2
Principles of Macroeconomics
The Phillips curve describes a negative relationship between inflation and unemployment. By expanding aggregate demand, policymakers can choose a point on the Phillips curve with higher inflation and lower unemployment. By contracting ...
N. Mankiw, 2014
3
Economics
When nominal wages and other costs increase, the aggregate supply curve and me Phillips Curve shift up. 2. If aggregate demand does not change, a higher aggregate supply curve (and a higher Phillips Curve) will result in higher prices, ...
Walter J. Wessels, 2000
4
Principles of Economics
FIGURE 5 How Expected Inflation Shifts the Short-Run Phillips Curve The higher the expected rate of inflation, the higher the curve representing the short-run trade-off between inflation and unemployment. At point A, expected inflation and  ...
N. Mankiw, 2014
5
Flattening of the Phillips Curve: Implications for Monetary ...
The achievable combinations of inflation and output variability are less favorable when the Phillips curve is flatter. The central bank needs to generate greater volatility in domestic demand to achieve any desired level of inflation variability ( and ...
Dora Iakova, 2007
6
Economics
Policy makers concluded from the Phillips curve that lowering both wage inflation and unemployment was impossible; they could do only one or the other. So the combination of low wage inflation and low unemployment was unlikely This was  ...
Roger A. Arnold, 2013
7
Macroeconomics
Policy makers concluded from the Phillips curve that lowering both wage inflation and unemployment was impossible; they could do only one or the other. So the combination of low wage inflation and low unemployment was unlikely. This was  ...
Roger A. Arnold, 2013
8
Monetary Policy with a Convex Phillips Curve and Asymmetric Loss
In the latter case, two plausible alternatives involve fixing the difference U*- q>(U* ) to be a constant, or defining <p= rnin{U}/2 over the unemployment sample. The nonlinear (convex) policy tradeoff implies that the slope of the Phillips curve is ...
Demosthenes N. Tambakis, 1998
9
Is the Phillips Curve Really a Curve? Some Evidence for ...
3. Estimates of Phillips Lines with Restricted Model Consistent NAIRUs Charts 1a . The Phillips Curve, the NAIRU and the Natural Rate of Unemployment 1b. The Implications of Greater Unemployment Variability for the Natural Rate 2.
Mr. Douglas Laxton, Guy Debelle, 1996
10
Contracting Models of the Phillips Curve: Empirical ...
Empirical Estimates for Middle-income Countries Pierre-Richard Agénor, Nihal Bayraktar. evidence on contracting models of inflation for four middle-income developing countries: Chile, Korea, the Philippines, and Turkey. These countries  ...
Pierre-Richard Agénor, Nihal Bayraktar, 2003

10 NEWS ITEMS WHICH INCLUDE THE TERM «PHILLIPS CURVE»

Find out what the national and international press are talking about and how the term Phillips curve is used in the context of the following news items.
1
Paul Krugman | The Half-Lives of Others (Wonkish)
Finally, we have a rudimentary Phillips curve, in which the rate of inflation depends on the output gap. Photo. Credit. Taken together, these ... «New York Times, Jul 15»
2
Et tu Singapore? Another central bank suffocates the economy?
And in the United States, the Phillips Curve has become prone—where anymore is the connection between “tight” labor markets and inflation? «The Corner Economic, Jul 15»
3
Davidson College launches Advanced Placement test preparation …
For the time being, the modules are not full courses (although those are on the way). One module, for example, breaks down the Phillips curve, ... «Inside Higher Ed, Jul 15»
4
Assessing the Recent Behavior of Inflation
Furthermore, the empirical Phillips curve relationship that links inflation to the size of production or employment gaps has been roughly stable ... «Federal Reserve Bank of San Francisco, Jul 15»
5
What Phillips Curves Say About Next Big Moves In Major FX …
"First, there is evidence that inflation dynamics in the periphery, as proxied by shifts in the Phillips curve, are more significant not just in the Euro ... «eFXnews, Jul 15»
6
Greece Is In A Deflationary Spiral According To Online Prices
Assuming a short-term Phillips curve relationship where employment is positively correlated with inflation, a deflationary spiral for Greece may ... «Forbes, Jul 15»
7
Ireland And Greece
In technical terms, if the slope of the Phillips curve is similar in both countries, Greece's adjustment was always going to be more difficult, ... «Social Europe, Jul 15»
8
Goldman Sachs FX Predictions: Pound (GBP) to Euro, Dollar …
We exploit the cross section of countries in the Euro zone to examine whether the Phillips curve – the link between inflation and slack – has ... «Exchange Rates UK, Jul 15»
9
What you need to know ahead of the interest rate announcement
The once-stable Phillips Curve—which offered a tradeoff of higher inflation in exchange for lower unemployment—had disappeared. «Macleans.ca, Jul 15»
10
Retail Sales Data Suggest Economy Has Slipped Into Mild Recession
A recession is essentially a serious and sustained deviation from the potential growth path, as opposed to the mistaken Phillips Curve ... «Newsmax, Jul 15»

REFERENCE
« EDUCALINGO. Phillips curve [online]. Available <https://educalingo.com/en/dic-en/phillips-curve>. Apr 2024 ».
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