Economics, Econometrics and Finance
a year ago

Unemployment and Inflation: The Macro Impact on Economic Stability.

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Oxford University Press eBooks
The Macroeconomics of Low Inflation
George A. Akerlof

Paper Summary

The natural rate of unemployment affects how fast prices rise or fall. If unemployment is lower than this natural rate, prices go up faster. If it's higher, prices rise slower. If unemployment is at the natural rate, prices stay the same. Policymakers can choose how fast prices go up or down.

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