Arbeitspapier
Is There a Long-Run Trade-Off between Inflation and Unemployment?
How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive Phillips curve theories or uncorrelated, 'as in the neo-liberals' view or are they positively correlated as Friedman suggested in his Nobel lecture? In this paper inflation is introduced into a general equilibrium search unemployment model. We show that it is possible to get either a negatively or a positively sloping long-run Phillips curve, all depending on the source of inflation.
- Language
-
Englisch
- Bibliographic citation
-
Series: IUI Working Paper ; No. 150
- Classification
-
Wirtschaft
General Equilibrium and Disequilibrium: General
Price Level; Inflation; Deflation
Unemployment: Models, Duration, Incidence, and Job Search
- Subject
-
Unemployment
inflation
Phillips curve
general equilibrium
Phillips-Kurve
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Axell, Bo
Lang, Harald
- Event
-
Veröffentlichung
- (who)
-
The Research Institute of Industrial Economics (IUI)
- (where)
-
Stockholm
- (when)
-
1985
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Axell, Bo
- Lang, Harald
- The Research Institute of Industrial Economics (IUI)
Time of origin
- 1985
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