Phillips Curve Explained | Equation of Phillips Curve | Macro Economics | Harpreet Kaur | Ecoholics
5.7 هزار بار بازدید -
2 سال پیش
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The inverse relationship between unemployment
The inverse relationship between unemployment rate and inflation when graphically charted is called the Phillips curve.
The theory states that the higher the rate of inflation, the lower the unemployment and vice-versa. Thus, high levels of employment can be achieved only at high levels of inflation. The policies to induce growth in an economy, increase in employment and sustained development are heavily dependent on the findings of the Phillips curve.
However, the implications of Phillips curve have been found to be true only in the short term. Phillips curve fails to justify the situations of stagflation, when both inflation and unemployment are alarmingly high.
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The theory states that the higher the rate of inflation, the lower the unemployment and vice-versa. Thus, high levels of employment can be achieved only at high levels of inflation. The policies to induce growth in an economy, increase in employment and sustained development are heavily dependent on the findings of the Phillips curve.
However, the implications of Phillips curve have been found to be true only in the short term. Phillips curve fails to justify the situations of stagflation, when both inflation and unemployment are alarmingly high.
Ecoholics is the largest platform for economics.
Download our app: http://ecoholics.in/mobile-app/
Visit our website for further information and resources: http://ecoholics.in/
To Subscribe for Courses - https://subscription.ecoholics.in/
Reach out to us on Whatsapp for further information: https://wa.me/917880107880
If you’re preparing for competitive exams like UPSC IES, RBI DPER or UGC NET then Ecoholics is the one-stop destination for all your learning needs. Study economics the smart way and get an in-depth understanding of this dynamic subject with our holistic approach. Our team of expert faculties help you polish your knowledge and provides you with one-on-one mentorship and doubt-clearing sessions, so you leave no stone unturned when it comes to your preparation. By signing up with us, you can access our live classes, video lectures, test series and get the hard copy of study material delivered to your doorstep, so your preparation never hits a bump!
Follow our social media handles to stay updated on all things economics.
Follow Ecoholics on Twitter- Twitter: ecoholics_in
Follow Ecoholics Facebook Group - Facebook: 41907..
Follow Ecoholics Facebook Page - Facebook: ecoholics8
Follow Ecoholics on Instagram: Instagram: ecoholics.in
Follow Ecoholics on Telegram: https://t.me/ecoholicsbysanat
Become a Member of Largest Community of Economics: https://ecoholics.in/become-a-member/
#macroeconomics #economics #economic #economists #upsc #rbi #indianeconomicsservice #ias #iitjam #gateeconomics #ugcnet #ugc #jrf #economy #unionpublicservicecomission #ignou #dse #jnu #maentrance #pgentrance
2 سال پیش
در تاریخ 1401/05/07 منتشر شده
است.
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