In macroeconomics, the Phillips curve is an empirical curve of negative slope which relates the inflation and unemployment.
Phillips curve was introduced from the U.S. economic data in the early 1960's. When placed on the horizontal axis the unemployment rate and the ordinate the rate of inflation, Phillips obtained a curve with negative slope, similar to the demand.
Phillips curve relates inflation to unemployment and suggests that a policy aimed at price stability promotes unemployment. Therefore, some level of inflation is necessary to minimize unemployment.
With a strike of 20 %.... NEED devalued, but we can not devalue the Euro with the ECB that remains strong to keep inflation (Germany).
is clear that the only way economically reasonable for Spain to leave the crisis is out of the euro. Not necessarily in the EU (England has its currency, the pound, and belongs to the Community).
Iceland outside the EU, would be another excellent example. Following the 2008 financial crisis devalues \u200b\u200bits crown ... and have already passed the crisis.
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