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La tasa natural de desempleo: crítica a la curva de Phillips

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  • Oliva Sierra García

Abstract

This article synthesizes the theoretical foundations of Milton Friedman's formulations of the natural rate of unemployment. From the neoclassical perspective his theory challenged the standard policy recommendations which arise from the existence of a long run Phillips curve, via, the possibility of reducing the long run rate of unemployment at the cost of a higher rate of inflation. The concluding section of the paper highlights the economic and policy implications of the natural rate in juxtaposition with those which arise from a Keynesian perspective.

Suggested Citation

  • Oliva Sierra García, 1987. "La tasa natural de desempleo: crítica a la curva de Phillips," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 23, pages 11-53.
  • Handle: RePEc:lde:journl:y:1987:i:23:p:11-53
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    References listed on IDEAS

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    1. Michel Aglietta, 1978. "Panorama sur les théories de l'emploi," Revue Économique, Programme National Persée, vol. 29(1), pages 80-119.
    2. Tobin, James, 1972. "Inflation and Unemployment," American Economic Review, American Economic Association, vol. 62(1), pages 1-18, March.
    3. Maddock, Rodney & Carter, Michael, 1982. "A Child's Guide to Rational Expectations," Journal of Economic Literature, American Economic Association, vol. 20(1), pages 39-51, March.
    4. Desai, Meghnad J, 1975. "The Phillips Curve: A Revisionist Interpretation," Economica, London School of Economics and Political Science, vol. 42(165), pages 1-19, February.
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