Phillips curve

Related Terms:

relationship rate unemployment inflation historical equation model inverse empirical

Noun

Definition: A single-equation empirical model describing a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result within an economy.

We hope you enjoyed looking up some related words and definitions. We use various open machine learning and human sources to provide a more coherent reference that pure AI can provide. Although there are similar sites out there, they are filled with nonsense and gibberish due to their pure machine learning approach. Our dataset is in part derived from ConceptNet and WordNet with our own sprinkle of magic. We're always working on improving the data and adding more sources. Thanks for checking us out!