The Slanted-L Phillips Curve
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A slanted-L curve is well-suited to represent the non-linearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces unemployment
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美国国家经济研究局创建时间：
2024-02-01
