What is the slope of the Phillips curve?

The speed of price adjustment is indicated by the Phillips curve. From a Keynesian viewpoint, the Phillips curve should slope down so that higher unemployment means lower inflation, and vice versa. You can read about the Inflation in Economy- Types of Inflation, Inflation Remedies [UPSC Notes] in the given link.

A Phillips curve shows the tradeoff between unemployment and inflation in an economy. 

Further readings:

  1. Inflation Targeting: Methods, Drawbacks and Benefits
  2. Indian Economy Notes For UPSC Exam [Download PDFs]

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