E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
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Some Explorations, Using Canadian Data, of the S-Variable in Akerlof, Dickens, and Perry (1996)
A number of authors have suggested that economies face a long-run inflation-unemployment trade-off due to downward nominal-wage rigidity. This theory has implications for the nature of the short-run Phillips curve when wage inflation is low.