THE EXPECTATIONS HYPOTHESIS UNDER CHANGING EMPLOYMENT CONDITIONS
Abstract
The purpose of this paper is to show that three factors, the location, the direction and magnitude of variations in the unemployment rate, will affect the actual rate of inflation. A specific prediction of the expectations‐augmented trade‐off relation between unemployment and inflation may then be derived by considering how the rate of inflation ought to change in the course of a hypothetical unemployment cycle
Citation
MULVEY, C. and TREVITHICK, J.A. (1975), "THE EXPECTATIONS HYPOTHESIS UNDER CHANGING EMPLOYMENT CONDITIONS", Journal of Economic Studies, Vol. 2 No. 1, pp. 67-71. https://doi.org/10.1108/eb008050
Publisher
:MCB UP Ltd
Copyright © 1975, MCB UP Limited