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the inflation–unemployment dynamics during the recession and COVID-19 times in India and the UK. Using a generalized … recession and eventually turn to stagflation in India due to inflation caused by the weak supply side. However, in the UK, the …
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In this paper we introduce a small Keynesian model of economic growth, which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
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' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …
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