文档介绍：第三十五章
通货膨胀与失业之间
的短期权衡
The Short-Run Tradeoff
between Inflation and
Unemployment
1
失业与通货膨胀
Unemployment and Inflation
两个密切受到注视的经济状况指标是通货膨
胀和失业。
Two closely watched indicators of economic
performance are inflation and
unemployment.
将通货膨胀率和失业率相加得到痛苦指数,
它是经济“健康”的一个衡量指标。
The misery index, one measure of the
“health” of the economy, adds together the
inflation rate and unemployment rate.
2
失业与通货膨胀
Unemployment and Inflation
经济状况的这两个指标——失业与
通货膨胀是如何相关的呢?
How are these two measures of
economic performance – inflation
and unemployment – related to
each other?
3
失业与通货膨胀:长期
Unemployment and Inflation:
The Long-run
自然失业率依赖于劳动力市场的各种特征。
The natural rate of unemployment depends
on various features of the labor market.
例如,最低工资法、工会的市场权力、效率
工资的作用、寻找工作的有效性。
Examples include minimum-wage laws, the
market power of unions, the role of efficiency
wages, and the effectiveness of job search.
4
失业与通货膨胀:长期
Unemployment and Inflation:
The Long-run
通货膨胀率主要依赖于货币数量的增长,它
是由美联储控制的。
The inflation rate depends primarily on
growth in the quantity of money, controlled
by the Fed.
因此,在长期中,通货膨胀和失业基本是互
不相关的问题。
In the long run, therefore, inflation and
unemployment are largely unrelated
problems.
5
失业与通货膨胀:短期
Unemployment and Inflation:
The Short-run
社会面临着失业与通货膨胀之间的短期权衡。
Society faces a short-run tradeoff between unemployment
and inflation.
如果政策制定者扩张总需求,他们能够降低失业,但必
须以更高的通货膨胀为代价。
If policymakers expand aggregate demand, they can
lower unemployment, but only at the cost of higher
inflation.
如果他们紧缩总需求,他们能够降低通货膨胀,但必须
以暂时更高的失业率为代价。
If they contract aggregate demand, they can lower
inflation, but at the cost of temporarily higher
unemployment.
6
菲利普斯曲线
The Phillips Curve
菲利普斯曲线表示了通货膨胀与失
业之间的这一短期关系。
The Phillips curve illustrates the
short-run relationship between
inflation and unemployment.
7
菲利普斯曲线
The Phillips Curve...
通货膨胀