A beginner's guide to the Phillips Curve
The Richmond branch of the Federal Reserve has published an introduction to the Phillips curve, which looks at the relationship between unemployment and inflation.
Jeffrey Lacker, the president of the Richmond Fed, and John Weinberg, a research director and senior vice president at the Richmond Fed, investigate the relationship between the two phenomena, and their relationship with monetary policy, by looking at the history of the Phillips curve.
To read the paper, click here
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