Market Power, NAIRU, and the Phillips Curve

<div>Visualization of fits of the three data sets to Equation (<a href="https://static.hindawi.com/articles/aaa/volume-2020/7083981/figures/#EEq6">12</a>) using the mean of each parameter’s posterior distribution.</div>

Abstract and Applied Analysis

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Figure 1

Figure 1: Market Power, NAIRU, and the Phillips Curve 