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Some Comments on the long run trade-off between Inflation and Unemployment

Published online by Cambridge University Press:  17 August 2016

David A. Peel
David A. Peel*
Affiliation:
University of Liverpool
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Extract

Essentially the same mathematical formulations of the wage and price equation have been used in recent theoretical work by Artis [1971] and Rothschild [1971] to illustrate the circumstances under which there is no long run trade-off between the rate of wage inflation and unemployment.

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 40 , Issue 3 , 1974 , pp. 281 - 284
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1974 

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References

Artis, M. [1971], Some Aspects of the Present Inflation and the National Institute Model. Chapter I in Johnson, H.G. and Nobay, A.R. (eds.) “The Current Inflation” Macmillan.Google Scholar
Friedman, M. [1968], Monetary Theory and Policy. American Economic Review.Google Scholar
Godfrey, L.G. [1971], The Phillips Curve Incomes Policy and Trade Union 1968 Effects. Chapter 6. “The Current Inflation”, Macmillan.Google Scholar
Hines, A.G. [1971], The Determinants of the Rate of Change of Money Wages Rates and the Effectiveness of Incomes Policy, Chapter 8 in the Current inflation, Macmillan.Google Scholar
Lipsey, R.G. [1970] and Parkin, M. Incomes Policy: a reappraisal. Economica.Google Scholar
Rothschild, M.K. [1971]. The Phillips Curve and All that. Scottish Journal of Political Economy.Google Scholar
Wallis, K.F. [1971]. Wages, prices and incomes policies. Some Comments. Economica.Google Scholar