KnowraPhillips curveLinked fromLinked fromThe 24 pages that link to Phillips curve, each with the reason it gives.All 24Related 18Narrower topic 1Compared with 5Milton FriedmanCompared with: Friedman rejected a stable long-run trade-off, arguing that expectations shift the curve.StagflationCompared with: Stagflation challenged the simple version that implied inflation and unemployment move in opposite directions.Paul VolckerCompared with: Volcker accepted severe short-run unemployment rather than preserve a presumed inflation-employment tradeoff.Production–possibility frontierCompared with: It depicts a macroeconomic relationship rather than combinations of producible outputs.Reserve army of labourCompared with: It frames unemployment as a variable associated with inflation, rather than chiefly as capital’s labour reserve.