CHANGES IN AGGREGATE demand are the fundamental source of changes in the price
level. In the long run, the supply of resources determines the volume of real output, the …

WHAT RATES OF INFLATION will accompany various unemployment rates? This question
is the central concern of stabilization policy today and also a major source of uncertainty for …

The Phillips curve was initially formulated as a relationship between the rate of wage
change and unemployment, yet what matters for stabilization policy is the rate of inflation …

Do labor market activities help predict inflation?; Page 1 Electronic copy available at: http://ssrn.com/abstract=1655986
52 2Q/2010, Economic Perspectives Do labor market activities help predict inflation? Luojia …

The standard analysis of inflation is based on the existence of a short-and long-run Phillips
curve or tradeoff between the rate of inflation and unemployment. This tradeoff results from …

Originally published in 1979, this reader presents an industrialist view of the labour market
and economics as they stood at the time in the United States. The essays collated aim to …

state Phillips curve relation between the employment level and the rate of wage (or price)
change; the rate of change of employment (or output) also frequently figures in the general …

I. Introduction pWENTY YEARS have passed since Pro-fessor AW Phillips first brought the
attention of the economics profession to the relationship between inflation and …

In the coming year 1979, is it possible to achieve a 5 percent unemployment rate and keep
annual inflation down to 4 percent? To raise this question in terms of a particular …

An overwhelming majority of academic economists holds that there is a functional
relationship between the rate of wage (and price) inflation and the level of unemployment …