Using High Unemployment to Reduce Inflation After the 1970s Oil Shocks
The Phillips curve model helps to explain the economic strategy used to combat high inflation following the oil shocks of the 1970s. In this historical instance, policymakers induced a period of high unemployment to create a negative bargaining gap, which was instrumental in bringing the persistent inflation rates down.
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Introduction to Macroeconomics Course
Ch.4 Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
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Using High Unemployment to Reduce Inflation After the 1970s Oil Shocks
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Using High Unemployment to Reduce Inflation After the 1970s Oil Shocks
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