and suppose that %u019F is initially equal to 0… Show more

and suppose that %u019F is initially equal to 0… Show more Suppose that the Phillips curve is given by Assume and suppose that %u019F is initially equal to 0. Suppose that the rate of unemployment is initially equal to the natural rate. In year t, the authorities decide to bring the unemployment rate down to 3% and hold it there forever. What are the rate of inflation in years t, t+1, t+2 and t+4? • Show less

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