|
|
Acc. to Blanchard high unemployment leads not to a "low inflation" , but to a 'decrease ' in inflation over time ( and after this he defines phillips curve).
i am not able to get the difference low inflation and decrease in inflation
or
does it mean that high unemployment leads not to a fall in the level of inflation bt to a fall in the rate of increase of inflation i.e., inflation increases at a falling?
guys plz help!
|
Locked
