Meaning PHILLIPS CURVE: A graph that supposedly shows the relationship between inflation and unemployment. It is conjectured that there is a simple trade-off between inflation and unemployment (high inflation and low unemployment, and low inflation and high unemployment). Named after A.W. Phillips. Obviously, the relation between these important macroeconomic variables is more complicated than this simple graph would suggest. For a modern treatment, see work of Robert Lucas
More terms such as Phillips Curve in Dictionary P.
- Definition Precious Metals:
- Examples platinum, and palladium, which are used for their intrinsic value or for their value in production. These may be traded either in their physical state or by way of futures and options contracts phillips curve definition.
- Definition Personal Property:
- Examples Any assets other than real estate phillips curve explain.
- Definition Proceeds Sale:
- Examples OTC securities sale whose revenue is used to buy another security phillips curve what is.
- Definition Private Limited Partnership:
- Examples A limited partnership with no more than 35 participants that is not registered with the SEC phillips curve meaning.
- Definition Postponement Option:
- Examples The option of deferring a project without eliminating the possibility of undertaking it phillips curve abbreviation.
