expectations-augmented Phillips curve
GPTKB entity
Statements (19)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:basisFor |
natural rate of unemployment
NAIRU (Non-Accelerating Inflation Rate of Unemployment) |
| gptkbp:contrastsWith |
gptkb:original_Phillips_curve
|
| gptkbp:describes |
relationship between inflation and unemployment
|
| gptkbp:explains |
stagflation
|
| gptkbp:field |
macroeconomics
|
| gptkbp:form |
π = π^e - β(u-u^n)
|
| https://www.w3.org/2000/01/rdf-schema#label |
expectations-augmented Phillips curve
|
| gptkbp:includes |
inflation expectations
|
| gptkbp:influenced |
gptkb:New_Keynesian_economics
|
| gptkbp:introducedIn |
late 1960s
|
| gptkbp:proposedBy |
gptkb:Milton_Friedman
gptkb:Edmund_Phelps no long-run trade-off between inflation and unemployment |
| gptkbp:relatedTo |
gptkb:Phillips_curve
|
| gptkbp:bfsParent |
gptkb:Edmund_Phelps
gptkb:Phillips_curve |
| gptkbp:bfsLayer |
6
|