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Lecture 11 Labor Market (Chapter 14) • Why is there unemployment? (Class discus- sion) • Phillips Curve • Plot of the price of imports • NAIRU

Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,

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Page 1: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,

Lecture 11

Labor Market (Chapter 14)

• Why is there unemployment? (Class discus-sion)

• Phillips Curve

• Plot of the price of imports

• NAIRU

Page 2: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,
Page 3: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,
Page 4: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,
Page 5: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,
Page 6: Lecture 11 Labor Market (Chapter 14)Phillips Curve The Phillips Curve shows the relationship between the infla- tion rate and the unemployment rate. FIGURE 13.6 Unemployment and Inflation,

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