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Page 1 of 3
Keynesians
Phillips Curve
Monetarists
Phillips Curve
Conclusions
From Theory
IB Economics - Messere
Causes of
Inflation
Page 2 of 3
Effects of
Inflation
Unemployment
Reduces competitiveness
Will move towards a natural level (Un) in the long run.
Never any disequilibrium unemployment in the long run.
Equilibrium unemployment consists of
-
Frictional
Structural
Technological
IB Economics - Messere
Solutions to
Unemployment
Page 3 of 3
Crowding out
Taxation
Good
Governmental
Policy