Is the Phillips curve still alive? Evidence from the euro area

Beveridge, 1981, A new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the business cycle, J. Monet. Econ., 7, 151, 10.1016/0304-3932(81)90040-4 Ciccarelli, 2017 Clarida, 2000, Monetary policy rules and macroeconomic stability: Evidence and some theory, Q. J. Econ., 115, 147, 10.1162/003355300554692 Cogley, 2010, Inflation-gap persistence in the US, Amer. Econ. J. Macroecon., 2, 43, 10.1257/mac.2.1.43 Coibon, 2018 Friedman, 1968, The role of monetary policy, Amer. Econ. Rev., 58, 1 Gordon, 2013 Harvey, 1989 Harvey, 2011, Modelling the Phillips curve with unobserved components, Appl. Fin. Econ., 21, 7, 10.1080/09603107.2011.523169 Koopman, 2010, STAMP 83: Structural Time Series Analyser Phillips, 1958, The relation between unemployment and the rate of change of money wage rates in the United Kingdom, Economica, 25, 283 Summers, 2017, America needs its unions more than ever