Bill Mitchell — Unemployment and Inflation – Part 10

I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text during 2013 (to be ready in draft form for second semester teaching). Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.

This is the continuation of the Chapter on unemployment and inflation – the series so far is:
▪ Unemployment and inflation – Part 1
▪ Unemployment and inflation – Part 2
▪ Unemployment and inflation – Part 3
▪ Unemployment and inflation – Part 4
▪ Unemployment and inflation – Part 5
▪ Unemployment and Inflation – Part 6
▪ Unemployment and Inflation – Part 7
▪ Unemployment and Inflation – Part 8
▪ Unemployment and Inflation – Part 9 

I am now continuing the discussion of the Phillips Curve …

Chapter 12 – Unemployment and Inflation 

Advanced material – The Rational expectations hypothesis

Bill Mitchell – billy blog
Unemployment and Inflation – Part 10
Bill Mitchell