The Tradeoff between Inflation and Unemployment

The Tradeoff between Inflation and Unemployment - Part 2 (April 15)

Title:	The Tradeoff between Inflation and Unemployment - Part 2 (April 15)
Description:	VI. Inertial Inflation and the Costs of Disinflation A. Recessions and Disinflation B. The reaction of expectations C. A numerical example D. The rule of thumb and the disinflation of the 1980s. VII. Rational Expectations A. The meaning of Rational Expectations B. The short-run vertical Phillips Curve C. Implication: costless inflation? D. A less extreme version of rational expectations: no inertia in expectations, but long-term contracts. E. The problem of credibility VII. Concluding remark: Don't buy the Brooklyn Bridge
Number of Cards:	9
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Author:	kchia13
Created:	2009-04-19
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