Some of them are issues that have remained central to the macroeconomic agenda over the past 50 years, some have to my regret fallen off the agenda, and others are new to the agenda. 5  4  1.
Inflation and unemployment: Estimated Phillips curves appear to be flatter than they were estimated to be many years ago – in terms of the textbooks, Phillips curves appear to be closer to what used to be called the Keynesian case (flat Phillips curve) than to the classical case (vertical Phillips curve).