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During the 1970s and 1980s, Britain suffered markedly higher inflation than Germany. However, since 1997 Britain's inflation rate has been much closer to Germany's. What

During the 1970s and 1980s, Britain suffered markedly higher inflation than Germany. However, since 1997 Britain's inflation rate has been much closer to Germany's. What are the reasons for this? (Illustrate your answer using the Phillips curve diagram).

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