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2010-ECON 202 L18 - ECON202 Viv Hall SEF VUW L18 New...

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ECON202 Viv Hall, SEF VUW L18 New Zealand’s Phillips Curves, and a small Dynamic Model 1. New Zealand’s major dis inflation , ongoing low and stable inflation, actual and “natural” unemployment rates (NRUs) 2. A simple theoretical framework for evaluating the output and unemployment costs associated with dis inflation 3. Roles of expectations and/or wage and price rigidities/inflexibilities, in dis inflation adjustment processes Blanchard 5/e, chapter 9
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