Models | Economics Discussion

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion! With the existence of stagflation, new economic models appeared during 1970s. M. Friedman and E.S. Phelps sought to explain the phenomenon of stagflation (or the instability of the Phillips curve) in terms of inflationary expectations; changes in inflationary expectations cause shifts in the Phillips curve. According to the Friedman-Phelps model, the [...]

By Suman K|2018-08-13T06:52:03+05:30August 13, 2018|Friedman Phelps Model|Comments Off

Technological Gap Model of International Trade | Economics

The Heckscher-Ohlin theory, like the earlier theories of trade, assumed that the techniques of production were given and fixed. Such an assumption can be valid only in a static system. In actual dynamic realities, there can be no place for such an assumption. The technical changes have highly significant effects on production and trade. A technological change may be expressed [...]

By Aahana S|2018-03-15T11:34:36+05:30March 15, 2018|Models|Comments Off

Mundellian Model of Internal and External Stability | Economics

R.A. Mundell stressed not only the need of a monetary-fiscal policy mix to achieve the internal and external stability through his celebrated article. The Appropriate Use of Fiscal and Monetary Policy for Internal and External Stability, but also attempted to provide an answer to a very crucial question concerning the policy priorities in different economic situations like internal unemployment and [...]

By Aahana S|2018-03-15T11:34:35+05:30March 15, 2018|Economic Stability|Comments Off

Tag Archives | Models

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion

Technological Gap Model of International Trade | Economics

Mundellian Model of Internal and External Stability | Economics