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- cmulbrandon - Aug 25 2008 | Visualizing Economics
Quoted: I have plotted the annual inflation (CPI-U) vs unemployment. The green line represents the time William Martin was the Fed Chairman (April 2, 1951 – February 1, 1970). The gray line represent the years 1948-2007. In traditional economic theory, the Phillips curve describes the inverse relationship between inflation and unemployment, i.e. when inflation
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