Impacto
Downloads
Downloads per month over past year
Baiges, Josep and Molinas, César and Sebastián Gascón, Miguel (1987) The short-run Phillips curve of the current spanish economy. [ Documentos de Trabajo de la Facultad de Ciencias Económicas y Empresariales; nº 15, 1987, ISSN: 2255-5471 ]
![]() |
PDF
Creative Commons Attribution Non-commercial Share Alike. 379kB |
Official URL: http://eprints.ucm.es/21179/
Abstract
Some economists have advocated an expansionary demand policy to reduce unemployment in Spain. This means accepting a negatively sloped short-run Phillips curve that would allow the exploitation of the celebratred trade-off between inflation and unemployment.
This paper gives a qualitative characterization of the Spanish short-run Phillips curve. We argue that this curve is currently vertical and the apparent trade-off shown by the data is misleading, as it is caused by an increase in the equilibrium rate of unemployment. Consequently, the effects of an expansionary demand policy would mainly go into prices and the reduction of unemployment would be small.
Item Type: | Working Paper or Technical Report |
---|---|
Uncontrolled Keywords: | Phillips Curve, Unemployment, Curva de Phillip, Desempleo, Economía española. |
Subjects: | Social sciences > Economics > Labor Social sciences > Economics > Economics |
Series Name: | Documentos de Trabajo de la Facultad de Ciencias Económicas y Empresariales |
Volume: | 1987 |
Number: | 15 |
ID Code: | 21179 |
Deposited On: | 13 May 2013 12:25 |
Last Modified: | 21 Apr 2015 08:15 |
Origin of downloads
Repository Staff Only: item control page