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The Rise of the Phillips Curve
Warts and All
The Shifting Sands of the Phillips Curve
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adaptive expectations aggregate aggregate demand analysis APROD assumed assumption average bargaining groups Canadian labour market Canadian Phillips curve Canadian wage cent Chart COLA clauses consumer prices countercyclical demand and supply demand management policies disequilibrium econometric economists effect excess demand excess labour demand existence expansionary explanatory variables firm fiscal policy help-wanted index important increase indirect tax inflation and unemployment inflation rate labour market conditions labour supply level of unemployment long-run trade-off curve macroeconomic monetary offset Phillips wage curve Phillips-curve model policy-makers positive demand shock price catch-up price changes price coefficient price expectations price inflation price levels price movements rate of price rate of wage relationship scatter diagram shift statistical supply curves supply side sustainable trade-off curve theoretical unemployed Unemployment Insurance Unemployment Insurance Act unemployment rate unexpected inflation wage adjustment wage changes wage contracts wage determination process wage equation wage inflation wage settlements wage spillovers wage studies Wilton workers