The Phillips Curve is an inverse relationship between the rate of unemployment in an economy and the inflation. The lower the unemployment is, the higher inflation we get! Thus we can say that the Phillips Curve is negative (downward sloping)

Can Phillips curve be applied to ZIMBABWEAN PROBLEMS

The Phillips curve was developed by a New Zealand economist William Phillips in 1958 in a paper titled "The Relationship between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom 1861- 1957".

LRPC stands for Long run Phillips Curve.

Erik Harsaae has written:

'Statistisk forsoegsmetodik og dens anvendelse i industrielt forsoegsarbejde'

'Matematisk opslagsbog for oekonomer'

'The nature of the Phillips curve' -- subject(s): Phillips curve