# What is the Phillips curve?

The inverse relationship between unemployment rate and inflation when graphically charted is called the Phillips curve. It is a single-equation economic model, named after William Phillips. You can read about the Inflation in Economy- Types of Inflation, Inflation Remedies [UPSC Notes] in the given link.

Since 1974, seven Nobel Prizes have been given to economists for, among other things, work critical of some variations of the Phillips curve.