Economics, Econometrics and Finance
8 years ago

Inflation and Unemployment: New Study Reveals Surprising Long-Term Relationship

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RePEc: Research Papers in Economics
Is There a Long-Run Trade-Off between Inflation and Unemployment?
Bo Axell, Harald Lang

Paper Summary

The article explores the relationship between inflation and unemployment in the long run. It introduces inflation into a model of search unemployment and shows that the long-run Phillips curve can slope either negatively or positively, depending on the source of inflation.

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