Sunday, May 28, 2006


Econ Question

Does modern economics still believe in an unemployment-inflation tradeoff?

It depends on who you ask, but I would say that the average answer would be no. Or, more accuratley, there is no consistant long term trade off between inflation and unemployment. But that's only my impression, which probably isn't the best one out there.
That's what McElroy taught us.
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