The Phillips Curve and Inflation
Rep. Erik Paulsen (R-MN) and former Federal Reserve Chair Janet Yellen on the Phillips Curve and the relationship between inflation and the unemployment rate.
Description
Rep. Erik Paulsen (R-MN) and former Federal Reserve Chair Janet Yellen on the Phillips Curve and the relationship between inflation and the unemployment rate.
Bell Ringer Assignment
- According to Ms. Yellen, is the Phillips Curve a useful model when examining the relationship between inflation and the unemployment rate? Why does Ms. Yellen suggest that the relationship has "become more attenuated over time"?
- According to Ms. Yellen, what are some of the important factors that have effected inflation since the Financial Crisis in the late 2000's?
Additional Resources
Participants
Vocabulary
- Dollar Value
- Imports
- Inflation
- Labor Market
- Oil Prices
- Wages