[econoclectic] EclectEcon: Hypothesis: Phillips Curves are Shaped Like Their Countries

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Posted by EclectEcon:
Hypothesis: Phillips Curves are Shaped Like Their Countries
http://econoclectic.powerblogs.com/posts/1193364742.shtml


   Peter Goodman recently referred me to [1]this paper in the Queen's
   University Working Paper Series. It shows a plot of Japan's
   [2]Phillips Curve using data from 1980 through 2005. The researchers
   noticed that if you do a mirror image of the plot, it looks very much
   like the map of Japan.
   I think the same thing is true for Canada. Here is a plot of the
   Canadian Phillips curve data from 1948 - 1996 (from the Canadian
   edition of The Economic Way of Thinking):

   Careful inspection of the plot reveals that the upper dots represent
   the arctic islands, and the large gap to the east appears right where
   Hudson Bay is. For comparison, consider this map of Canada (courtesy
   of the CIA):

   

References

   Visible links
   1. http://www.econ.queensu.ca/working_papers/papers/qed_wp_1083.pdf
   2. http://en.wikipedia.org/wiki/Phillips_curve

   Hidden links:
   3. file://localhost/files/econoclectic-10-25_Cdn_Phillips_Curve_004a.jpg
   4. file://localhost/files/econoclectic-canada-map.gif