There are four questions to be answered. Word limit max 750 per question
Explain the Phillips curve that describe a relationship between unemployment and inflation
Answer whether you do or do not agree with the typical trade-off relationship that you summarized in Question 1. Your answer must include the following:
- Comparison of two developed countries (OECD) members, two developing countries. Calculate the coefficient and provide reflection on the Phillips curve theory.
- Relevant empirical data collected from official databases (IMF, World Bank, ADB, OECD, central banks of each country, official statistical database of each country) that support your answer.
Same as Question 2, provide a Phillips curve analysis, explanation in the case of Japan. Then find a similarity with one developed country and one developing country.
Conclude the relationship between unemployment and inflation based on your answer to Question 2 and 3. You must include a brief summary of your analysis in conclusion, followed by your opinion and further data.