To reduce inflation to acceptable levels, it will be necessary to destroy between 1.7 million and 5.3 million jobs. … READ MORE >
Phillips curve
Flattening Phillips curve implies greater space to address economic needs
During the past few decades, as the economy has shifted from one based on manufacturing to one based on information and digital technologies, this traditionally inverse relationship between unemployment and inflation as shown in the Phillips curve has flattened. … READ MORE >