The number of people at work is generally closely related to whether an economy is growing at a reasonable rate Back in the depths ... This trade-off between unemployment and inflation—described by ...

with the unemployment rate (blue) and shows that, while the two generally have a somewhat inverse relationship (as suggested by the Phillips Curve), they occasionally move in tandem under certain ...

Greg Ip explains: “Standard models of the economy are built on a simple relationship: When unemployment goes down, inflation eventually goes up. That relationship, dubbed the Phillips curve ...

Stagflation combines stagnant economic growth, high unemployment, and persistent inflation. It defies traditional economic models, which typically show inflation rising during strong economic growth ...

The combination of these factors brings about a long-term average around which the unemployment rate tends to fluctuate, called the natural rate of unemployment (NRU). The term “natural” does not mean ...