School of Economics | The Phillips curve
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25 Dec

Posted at 02:43h in M.A Annual by
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Article Shared by  The Phillips curve given by A.W. Phillips shows that there exist an inverse relationship between the rate of unemployment and the rate of increase in nominal wages. A lower rate of unemployment is associated with higher wage rate or inflation, and vice versa....

14 Nov

Posted at 00:41h in SOE by
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The Phillips curve shows the relationship between unemployment and inflation in an economy. Since its ‘discovery’ by New Zealand economist AW Phillips, it has become an essential tool to analyse macro-economic policy. The Phillips curve and fiscal policy Background After 1945, fiscal demand management became the general tool...