Upadhyaya, Kamal; Gentle, Paul F.; Paudel, Krishna P. - In: Economia Internazionale / International Economics 60 (2007) 3, pp. 319-331
This article argues that any analysis of the Phillips Curve without the inclusion of real interest rate may generate a misleading result as any changes in the interest rate impacts the labor capital input mix in the production process, leading to a change in the level of employment in the...