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2 Economics D Question 8 Consider the following augmented Phillips curve: Tit - Ant-1 = (m+ z) - out When 0 is equal to one

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Economics D Question 8 Consider the following augmented Phillips curve: Tit - Ant-1 = (m+ z) - out When 0 is equal to one then: O Inflation does not depend on inflation in the previous period. Inflation expectations are zero. Inflation is very persistent. The augmented Phillips curve transforms into the original Phillips curve

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