FT.com / Columnists / Wolfgang Munchau - Inflation and the lessons of the 1970s It seem that everyone’s speculating about the US economy today. Recession or no recession, that is the question. The economy has even surpassed the Iraq War as the number one issue in the US presidential race! John McCai ...
The New Zealand-born economist, Bill Philiips, is best known for identifying an empirical relationship between a country’s inflation rate and its unemployment, the so-called Phillips curve. However, before becoming an economist, Phillips had been an engineer, and in 1949 he built one of the first mo ...
Well this one definitely falls under the strange and unusual. I found this on the Strange Maps blog, who found this on Marginal Revolution, a well known economics blog. I love this! It is not an exact match but the similarities are striking! The Philip’s Curve is the relationship that exists between ...
Tony Cleaver's "The Basics: Economics" provides a good grounding in economics and economic philosophy. I read the chapter on inflation and unemployment last night, including the Phillips Curve and Friedman's values. £10 new or cheaper online.
The idea behind the Phillips Curve is that higher inflation is associated with lower unemployment, and vice versa. Intuitively, this seems plausible enough. The stronger the economy, the more business is booming, the more jobs there will be. So we can expect the rate of unemployment to be lower. Ind ...
FT.com / Asia-Pacific / China - Weak dollar troubles Beijing Inflation, with its erosive effects on wealth and income, has plagued China at increasing rates since mid-2007. In February it reached an annualized rate of 8.7%, threatening to undermine China’s GDP growth rate, which has been predicted i ...
Suppose that Greg Mankiw and others are correct in suggesting that inflation expectations have risen dramatically. Is this bad news or good news? By way of full disclosure, I should note that it’s clearly good news for me, since I’m short nominal Treasury notes. If you follow the logic, that means i ...
