INFLATION, OUTPUT, AND EMPLOYMENT: SOME CLARIFICATIONS DAN E. BIRCH,*
ALAN A. RABIN** and LELAND B. 1. INTRODUCTION The notion has become oddly …

Recent theoretical developments by Friedman (1968) and Phelps (1967), attribute a crucial
role to inflationary expectations as a determinant of the actual inflation rate. This approach …

DEVELOPMENTS WITHIN THE ECONOMY and the profession in recent years have
generated a marked swing toward pessimism in the appraisal of the tradeoff between …

In several recent articles in] P KE (Tuchscherer, 1981; Cottrell, 1984-85; Myatt, 1986), the
relationship between inflation and unemployment was examined and discussed …

An economic policy which is designed to stabilize aggregate economic activity must be
based on three fundamental decisions. They are, first, the decision on the optimum pressure …

The connection between unemployment and inflation is the major unsolved problem of
macroeconomics-theory, econometrics, and policy. In the May 6, 1971, issue of the New …

These are part of a series of papers being prepared for consideration by the Joint Economic
Committee in connection with their" Study of Employment, Growth, and Price Levels." The …

With the advent of historically high in-flation rates in the US and elsewhere, tradi-tional
theories about the relationship between inflation and unemployment have come under …

During 1974, there was a sharp and unanticipated upward surge in the United States' price
level. The most common reaction to this development among popular commentators and, to …

With the acceleration of the controversy between Monetarists and Keynesians, it has
become apparent that there is great need for a rigorous analysis of the dynamics of …