Trade off between Inflation and Unemployment

This paper intends to discuss the trade-off between inflation and unemployment with the help of Phillips curve. The trade-off has been discussed from the perspective of both short-run and long-run. Furthermore, the paper has focused on the differences between adaptive expectation and rational expectation. Significance of credibility in the economic policy has also been described in this paper.

Trade off between Inflation and Unemployment

Type: Essay
Domain: Inflation/unemployment
Words: 1500
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