Phillips Curve Inflation and Unemployment in Hindi

Phillips Curve obtained obtained from the empirical data for the period !861 - 1957 by AW Phillips, indicates a stable and negative relationship between unemployment and inflation. The explanation was that the extra spending raises the demand for labor which in turn causes a shrinkage in the unemployment pool, and therefore causes an increase in nominal wage.As the cost of production goes up the increase in wage gets translated into inflation.. Therefore Phillips curve questions the Keynesian wisdom regarding public policy that economy can recover from recession through increased public spending. The policy was in currency during 1940s and 50s following its successful implementation in US economy (New Deal of President Roosevelt). Such spending would raise the aggregate demand and level of employment. Further, inflation will be caused by such extra spending only when it is undertaken after economy attains full employment. Meaning thereby an extra investment in the economy that raises the level of income and employment is not accompanied by inflation (at least demand-pull inflation) till economy attains full employment. Phillips curve offers the contrary evidence. But still it helped poly makers to target one variable by choosing certain level of other (variables being unemployment and inflation). The policy is called stop-go policy. But by the 1970s the Phillips curve itself called to question when many western economies experienced the inflation along with unemployment. As a result many explanations were offered by Monetarists and New-classical economists, and eventually what emerged as successful policy option was the supply side management.
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Gping fundamental if the suddenrise in demand and the Expected production with respect to the L by highering the previous term of malnutrition or lesseinng import,
hence the Phillipse curve must be having the maximal point which shows a great indifference.

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[@piyushchoudhary7119]

Sir can you please re-explain the part of Breakdown of Phillips curve and specially its explanation from the AD-AS Model ?
Thank you a lot !

[@BeyondtheClassroom]

Hi Piyush. You can visit our channel and checkout our specific video on breakdown of phillips curve if you are still interested. Thanks!

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Sir, thank you. What will include in supply side management to shift LRPC towards left?

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I was asked that what is the difference between the Keynesian Philips curve and the classical Philips curve.
so what should I answer this question?

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Aapka samjhane ka tarika bhut hi achha h..

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Good morning sir.
Sir Phillips curve se related aur video bana digiye....

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Noted

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Philips curve and philips hypothesis are same topics or not.......

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Sir how to reduce both inflation and unemployment what the process

[@akshaysingh6187]

Sir iska matlab ye hua ki hyper Inflation jada employment genrate karega phillips curve ke hisab se....

[@EZClassesfaghsa]

It simply suggests the increase in employment will be accompanied by inflation. It doesn’t mean the objective of raising employment is realised through creating inflation. Inflation can be caused by multiple factors.

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what will be below natural level of unemployment??

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If in an economy, there are no supply shocks and expected inflation is 5% over the next
year. Determine the inflation rate that is depicted by the short run Phillips curve at the
natural rate of unemployment..??Answer plz

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@@EZClassesfaghsa macroeconomics
Basic to higher which includes classical and modern theorems

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Demand pull inflation or cost push inflation short or long kisme kya hoga

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[@EZClassesfaghsa]

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Thanks for hindi...

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Sir make video of mundel Fleming model

[@krishna9237]

Sir only one question if I am confused please guide me,
My question is that
• why India faces inflation and unemployment together when there is an inverse relationship between them ?

[@EZClassesfaghsa]

Wait for my next video

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sir , may you please tell me how inflation and unemployment have negative inflation.

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Economic behaviour is a function of nominal return or real return under monetarists
¿ explain in sentences sir

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Then how un case of short run also labour supply or population can be constant ?
Each year millons of student are ready to work
Then how shortage of labour supply is a problem .

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sir...please make a video on investment function also...that will be a great help...thanks in advance

[@EZClassesfaghsa]

i will

[@saikaali7351]

Sir rational hypothesis Phillip curve k bad develop hoe na?

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Sir, LRPC ka left shift karne k liye kya steps lene padenge?

[@indraadhikari6036]

I was expecting that too but video ended..

[@lion1891]

Agr without money illusion job wage increase ho aur supply side management sahi hi to LRPC left side shift hoga

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Nice sir

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Thanks

[@ayushsingh7589]

❤️🙏

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❤️❤️❤️

[@shubhammonga3762]

In AD AS model, why does a producer reduce his supply when cost of production goes up? I feel that a producer can increase the price as cost went up but should not reduce output. Sir could you clarify this thought in my mind?

[@aniketborkar1263]

1) Some factors unrelated to price can shift the production level. For example, a technological improvement that reduces the input cost of a product will shift the supply curve outward, allowing suppliers to provide a greater supply at the same price level.
2) SImilarly a rise in input cost means that there will be many sellers who are not able to sell due to higher production costs. thus the aggregate supply curve shifts to the left
3) there is a difference beetween supply and quantity supplied. on an individual A producer will not directly reduce quantity supplied if he is able to make profit. but in the economy as a whole there will be many suppliers who will not be able to sell their goods due to rise in production cost. hence the supply contracts for the economy as a whole and not to be considered from an individual perspective (also aggregate supply means supply of all goods in market and not just a single product) in phillips curve disccussion is related to agregate supply
4) in my opinion what you said is correct, however that holds out only for individual suppliers. the supply of ecconomy as a whole will contract though

[@shubhammonga3762]

@@aniketborkar1263 you are right sir
If their is an improvement in labour productivity then we can get higher output even with the same existing labour also. But skilled labour also demands higher wages or to finance higher capital expenditure which could lead to reduction in overall supply if everyone doesnt afford this cost.

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Bahut Acha lecture but sir hindi hi use Kiya kariye

[@EZClassesfaghsa]

ok

[@thejokersera185]

Sir i want to knw that what is the main difference between philips and Keynes's thought regarding inflation and unemployment

[@EZClassesfaghsa]

Phillips curve is the observed inverse relationship between unemployment and inflation be it the demand pull or cost push. In Keynesian explanation of inflation it is a excess demand phenomenon that emerges as a result of expenditure after full employment.

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Please Sir make video in hindi on Lucas critique. Thank you

[@EZClassesfaghsa]

ok i will

[@saikaali7351]

sir price to 2 bar increase horae he jb economy a se b pe gae aur jb b se c pe gae .see AD AND AS FRAMEWORK..