Work by George Akerlof, William Dickens, and George Perry implies that if inflation is reduced from two to zero percent, unemployment will be permanently increased by 1.5 percent.
The Phillips curve is an economic model, named after Bill Phillips, that correlates reduced unemployment with increasing wages in an economy.[1] While Phillips did not directly link employment and ...
Work by George Akerlof, William Dickens, and George Perry implies that if inflation is reduced from two to zero percent, unemployment will be permanently increased by 1.5 percent.
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