=+ 6. Suppose that an economy has the Phillips curve = 1 0.5(u un

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=+ 6. Suppose that an economy has the Phillips curve

= −1 − 0.5(u − un

)

and that the natural rate of unemployment is given by an average of the past two years’

unemployment:

un = 0.5(u−1 + u−2).

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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Question Posted: Sep 30, 2024 03:01 AM

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=+ 6. Suppose that an economy has the Phillips curve = 1 0.5(u un

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Macroeconomics

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