Calculate the 12-month percentage increase in the consumer price index (CPI), and plot this, along with the
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Calculate the 12-month percentage increase in the consumer price index (CPI), and plot this, along with the unemployment rate. Do you observe a positive correlation, a negative correlation, or a correlation that is essentially zero? Can you find a Phillips curve relation or a reverse Phillips curve?
Answer the question using the Federal Reserve Bank of St. Louis’s FRED database, accessible at http://research.stlouisfed.org/fred2/
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