Explain how the tightening of unemployment benefits might influence the short-run and long run Phillips curves. Will the influence come from changes in the expected inflation rate, the natural unemployment rate, or both?

In 2017, the French government announced a plan to pour a five-year fund of €57 billion into reviving its sluggish economy. Later in the year it was revealed that French president Emmanuel Macron planned to tighten unemployment benefits, which were long blamed for the chronically high unemployment rate in France.