Phillips originally looked at the rate of change in money wages rather than inflation, but the Phillips

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Phillips originally looked at the rate of change in money wages rather than inflation, but the Phillips curve has come to be associated with the trade-off between inflation and unemployment. What is the relationship between the rate of change of money wages and inflation?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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