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RDP 2008-05: Understanding the Flattening Phillips Curve
Equation
∑
i
=
0
∞
(
γ
f
1
−
γ
f
P
)
i
E
t
m
c
t
+
i
=
∑
i
=
0
∞
(
γ
f
ρ
1
−
γ
f
P
)
i
m
c
t
=
m
c
t
1
−
γ
f
ρ
1
−
γ
f
P
.
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