Use the WS - PS model to graphically derive a set of Phillips curves. Explain the intuition
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Use the WS - PS model to graphically derive a set of Phillips curves. Explain the intuition behind the diagram. Provide an explanation of how a situation of deflation could occur (deflation is a situation in which inflation is negative so that prices are falling). What are you assuming about the real interest rate?
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Related Book For 
Macroeconomics Institutions Instability And The Financial System
ISBN: 9780199655793
1st Edition
Authors: Wendy Carlin, David Soskice
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