In an opinion column in the Wall Street Journal, economist Alan Blinder of Princeton University asks, Is
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In an opinion column in the Wall Street Journal, economist Alan Blinder of Princeton University asks, “Is the Phillips curve dead?”
a. Why have some economists and policymakers in recent years wondered whether the short-run Phillips curve trade-off between unemployment and inflation might no longer hold?
b. Briefly summarize how economists explain what has happened to the short-run trade-off between unemployment and inflation.
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Answer Lets address each question a Some economists and policymakers have questioned whether the shortrun Phillips curve tradeoff between unemployment and inflation might no longer hold due to several ...View the full answer
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