Implications Of Aggregate Demand Elasticity For The Phillips Curve
While the general relationship between the aggregate supply curve and the Phillips curve is recognized, the importance of aggregate demand and, in particular, aggregate demand elasticity, for the inflation-unemployment relationship has been untreated. We believe, however, that the elasticity of aggregate demand with respect to the general price level does have some significance for the short-run Phillips curve since, on a general level, the economy's equilibrium price level, inflation rate, real gross domestic product, and unemployment rate are determined jointly by aggregate supply and aggregate demand. The primary purpose of this paper then is to demonstrate with a graphical analysis the implications of aggregate demand elasticity for the Phillips curve.
Volume (Year): 35 (2004)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: https://sites.google.com/site/econnysea/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nicholas Apergis & Sophia Eleftheriou, 2000. "Measuring Price Elasticity of Aggregate Demand in Greece: 1961-1995," Public Finance Review, , vol. 28(5), pages 452-467, September.
When requesting a correction, please mention this item's handle: RePEc:nye:nyervw:v:35:y:2004:i:1:p:69-76. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Eryk Wdowiak)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.