Economics, Econometrics and Finance
5 years ago

Unveiling the Impact of the Phillips Curve on U.S. Policy Making

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Oxford University Press eBooks
Inflation, Output, and the Phillips Curve
Harold L. Cole

Paper Summary

The article discusses the history of the Phillips curve and its impact on U.S. policy in the 1960s and 1970s. It looks at how economists responded to stagflation by introducing concepts like NAIRU, rational expectations, and New Keynesians.

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