Documents Phillips Curves and Expectations

The Phillips Curve and its Modifications Phillips Curve and its Modifications The original Phillips curve The original Phillips curve 9 8 7 Wage inflation (%) 6 5 4 3 2 1…

Documents unemployment.ppt

Unemployment, Inflation and Growth Money and Prices • The quantity theory of money • The equation of exchange: MV = PY – M – V – P money supply velocity of circulation…