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In What Ways Does the Original Phillips Curve Differ from the Phillips

question 29

Essay

In what ways does the original Phillips curve differ from the Phillips curve created by economists Samuelson and Solow? What conclusions did economists draw based on the findings of Phillips,Samuelson and Solow?


Definitions:

Consistency

The quality of being stable, coherent, and uniform in performance, behavior, or decision-making over time.

Distinctiveness

The quality of being noticeably different and unique from others.

External Causes

Relates to factors originating outside an individual or system that affect behavior or outcomes.

External Attribution

The process of attributing the cause of one's own or others' behavior to external factors or situations.

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