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. 2022 Aug 5;32(5):1419–1435. doi: 10.1007/s00191-022-00781-8

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© The Author(s) 2022, corrected publication 2022

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Fig. 7 — Combined effect of parameter changes. The parameters are α = c = β = γ = 0.5 for the dot-dashed curve and α = 0.5, c = 0.9, β = 0.6, γ = 0.2 with 20% increase in B for the solid curve. The combined effect of small parameter changes accumulates and flattens the wage Phillips curve