Phillipslike

Phillipslike is an informal term used in economic writing to describe phenomena, models, or results that resemble the Phillips curve, which relates labor market conditions to inflation or wage growth. The exact meaning varies by author, since there is no standardized definition for the term. In general, Phillipslike usage signals that there is some observable relationship between measures of labor slack (such as unemployment or vacancy rates) and inflation or wage pressure within a given context or time period.

In macroeconomics, a Phillipslike relationship may refer to a short-run trade-off where tighter labor markets coincide with higher inflation or faster wage growth, though the strength, direction, and stability of such a link can differ across regimes and datasets. The term is often employed when the relationship is not identical to the classic negative slope implied by the original Phillips curve or when it holds only under certain assumptions about expectations, credibility, or monetary policy.

Modern discussions frequently emphasize that the inflation-unemployment link can be unstable and influenced by factors such as inflation expectations, supply shocks, globalization, and policy rules. In this sense, Phillipslike patterns may be observed in a limited or regime-dependent way, or may describe a weaker, non-linear, or lagged response rather than a simple, persistent trade-off.

See also: Phillips curve, unemployment, inflation, wage-price dynamics, expectations-augmented Phillips curve, New Keynesian Phillips Curve.