Economics, Econometrics and Finance
8 years ago

Regional Unemployment Rates Impact Aggregate Economy in Surprising Ways

Bulletin of Economic Research
REGIONAL UNEMPLOYMENT RATE DISPERSION AND THE AGGREGATE PHILLIPS CURVE: SOME ADDITIONAL RESEARCH<sup>1</sup>
John A. Schofield

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The article explores how differences in regional unemployment rates affect the overall relationship between inflation and unemployment. The researchers studied data from different regions to see how these variations impact the aggregate Phillips curve. They found that when regional unemployment rates differ significantly, it can influence the overall relationship between inflation and unemployment. This suggests that regional disparities in unemployment can have broader implications for the economy as a whole.