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The Phillips’ Jumble

Posted By Don Boudreaux On June 20, 2011 @ 8:12 pm In Data,Inflation,Myths and Fallacies,Scientism,State of Macro,Work | Comments Disabled

Does this plot of data from 1948 through 2010 suggest that mild doses of inflation promote job creation? [1] (From Renee Courtois Haltom, “What Drives Changes in Economic Thought?” Region Focus, First Quarter 2011 [Federal Reserve Bank of Richmond]; this graph is on page 14.)

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