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Response to Death of the philips curve

from Hitesh Sawlani (hitesh@wanadoo.es)
Wow... too much for my current kownledge to handle... at alevel we are basically told:

Philips curve used to be true, but nor anymore, for reasons such as "target inflation rates" by the gov, they keep inflation down by using supply side policies, so that the increase in aggregate demand caused by employment is met with an increase in aggregare supply. They also tell us its possible that the philips curve has shifted to the right... i dont really understand how, maybe i shud pay more attention in class...

(posted 7284 days ago)

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