TAILIEUCHUNG - Lecture Business economics - Lecture 18: Unemployment and Inflation

In this chapter we examine this tradeoff more closely. The relationship between inflation and unemployment is a topic that has attracted the attention of some of the most important economists of the last half century. The best way to understand this relationship is to see how thinking about it has evolved over time. | Review of the previous lecture The natural rate of unemployment the long-run average or “steady state” rate of unemployment depends on the rates of job separation and job finding Frictional unemployment due to the time it takes to match workers with jobs may be increased by unemployment insurance Structural unemployment results from wage rigidity - the real wage remains above the equilibrium level causes: minimum wage, unions, efficiency wages Review of the previous lecture Duration of unemployment most spells are short term but most weeks of unemployment are attributable to a small number of long-term unemployed persons Lecture 18 Unemployment and Inflation Instructor: Abbas Course code: ECO 400 Lecture Outline Unemployment and inflation Phillips curve The cost of reducing inflation Unemployment and Inflation The natural rate of unemployment depends on various features of the labor market. Examples include minimum-wage laws, the market power of unions, the role of .

• Kinh tế học
• Business economics
• Lecture Business economics
• Business applications of economics
• Open economy
• Competitive markets
• Labor force
• Economic Models
• Principles of economics
• Economics of agriculture
• Monopolistic competition
• Macroeconomic policy
• Supply curve
• Elasticity of demand
• Consumer choice
• Competitive firms
• Imperfect competition
• Gross domestic product
• Financial intermediaries
• Productivity growth
• Natural rate of unemployment
• Money supply