Comments on: Countries that look like their Phillips curve

Countries that look like their Phillips curve

tepidmonkey — Sun, 04 Nov 2007 10:50:27 -0800

Some countries are shaped like their economic Phillips curve. Japan bears a strong resemblance to its Phillips curve. The Czech Republic does too, a little. And Canada's similarity to its Phillips curve it less obvious, but it's still there.

By: Aloysius Bear

Aloysius Bear — Sun, 04 Nov 2007 10:55:23 -0800

Surely in the long run only Chile should look like its Philips curve?

By: oddman

oddman — Sun, 04 Nov 2007 11:10:46 -0800

I don't get it.

By: Smart Dalek

Smart Dalek — Sun, 04 Nov 2007 11:36:04 -0800

When Phillips curves are plotted from census data, the results can physically resemble populated clusters. The most obvious examples could be found, say, in tracing subprime loan activity, or bat populations in the West Indies. Nonetheless, it can be a neat effect.

By: kuujjuarapik

kuujjuarapik — Sun, 04 Nov 2007 11:38:27 -0800

Let me guess...they're right about Micronesia too.

By: Aloysius Bear

Aloysius Bear — Sun, 04 Nov 2007 11:46:59 -0800

A Philips curve is the path connecting time-series data in inflation-unemployment space. I have no idea what Smart Dalek's comment means.

By: empath

empath — Sun, 04 Nov 2007 11:53:50 -0800

This is what happens to people that spend too much time looking at charts and graphs.

By: MtDewd

MtDewd — Sun, 04 Nov 2007 12:06:20 -0800

It's amazing someone noticed Japan's curve, since it had to be plotted backwards.

By: Busithoth

Busithoth — Sun, 04 Nov 2007 12:26:42 -0800

man sees pattern in chaos. ~~film~~ graphical proof at 11.

By: katillathehun

katillathehun — Sun, 04 Nov 2007 12:38:00 -0800

I hear a plate o' beans resembles its Phillips curve, too.

By: anewc2

anewc2 — Sun, 04 Nov 2007 12:38:31 -0800

The Czech Republic resembles its Phillips curve in the sense that the country is roughly oval, and the Phillips "curve" is a collection of uncorrelated data points. Canada's Phillips curve is pretty much uncorrelated too. Japan's is more interesting, with a vertical component and a horizontal component, but not much in the way of a diagonal line, which is what theory predicts. The whole Phillips curve idea was pretty much discredited by the stagflation of the 70s. Looking at these graphs -- yup, still bogus.

By: edgeways

edgeways — Sun, 04 Nov 2007 13:04:31 -0800

What the hell is a "natural rate of unemployment"?

By: deadmessenger

deadmessenger — Sun, 04 Nov 2007 13:30:21 -0800

Correlation, meet causation.

By: Balisong

Balisong — Sun, 04 Nov 2007 14:37:24 -0800

Man, that's a cool bat populations in the West Indies link.

By: blue_beetle

blue_beetle — Sun, 04 Nov 2007 14:40:10 -0800

Natural Rate of (un)employment

By: kittyprecious

kittyprecious — Sun, 04 Nov 2007 15:08:39 -0800

This is the pointlessest.

By: DenOfSizer

DenOfSizer — Sun, 04 Nov 2007 15:28:22 -0800

This is like when dogs look like their owners, innint?

By: Smart Dalek

Smart Dalek — Sun, 04 Nov 2007 16:00:14 -0800

Aloysius Bear: Phillips curves are quantitative graphs. Substitute "residual population" for "unemployment", and "rate of consumption" for "inflation" and you'll still end up with a head count to correspond to its respective geographic area.

By: Aloysius Bear

Aloysius Bear — Sun, 04 Nov 2007 16:28:43 -0800

The Phillips curve is specifically the correlation over time between inflation and unemployment. It was discovered by William Phillips in the late 50s. A graph of anything other than inflation and unemployment isn't a Phillips curve. Of course, outside of economics, there may be other Mr or Mrs Phillips who have invented or discovered curves, but they're nothing to do with William Phillips and his curve.

By: sfenders

sfenders — Sun, 04 Nov 2007 17:20:13 -0800

Canada's similarity to its Phillips curve it less obvious, but it's still there. Maybe, if you use your imagination a little. It looks like Vancouver is the place everyone wants to be. There's high unemployment in the maritimes, a few isolated dots in the north, not much going on in Ontario, and a big spike of inflation somewhere in the vicinity of northern Alberta.

By: SassHat

SassHat — Sun, 04 Nov 2007 17:25:31 -0800

I have some birth marks on my back that are totally in the shape of the big dipper!

By: Mitheral

Mitheral — Mon, 05 Nov 2007 09:47:47 -0800

anewc2 writes "Canada's Phillips curve is pretty much uncorrelated too." My take is no one would think the graph looks like Canada if it wasn't for the big fat 0 line doing double duty as the 49th.