Truth in Teaching Macroeconomics: Mappings of the Aggregate Supply Curve onto the Phillips Curve

Nancy Wulwick
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Nancy Wulwick: Old Dominion University

Eastern Economic Journal, 1991, vol. 17, issue 4, 403-408

Abstract: This essay shows that the stable Phillips curve cannot be mapped off an aggregate supply curve that is linear or exponential. Yet many principles of economics books claim that the stable Phillips curve is a mapping of a stable aggregate supply curve. Treating the stable Phillips curve mechanically as a mapping of the stable aggregate supply curve discourages the cognitive skills that the principles course intends to develop.

Keywords: Economics; Macroeconomics; Phillips Curve; Supply (search for similar items in EconPapers)
JEL-codes: A22 E24 E31 (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:17:y:1991:i:4:p:403-408

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