Phillips curve

From CNM Wiki
Revision as of 18:16, 2 July 2020 by Kainat9 (talk | contribs)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Phillips curve is the trade-off between unemployment and inflation.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Phillips curve. The trade-off between unemployment and inflation.

According to Macroeconomics by Mankiw (7th edition),

Phillips curve. A negative relationship between inflation and unemployment; in its modern form, a relationship among inflation, cyclical unemployment, expected inflation, and supply shocks, derived from the short-run aggregate supply curve.
Retrieved from "https://wiki.cnmcyber.com/w/index.php?title=Phillips_curve&oldid=50371"