Does inflation-unemployment trade-off exist in India

dc.contributor.author	Dholakia, Ravindra H.
dc.date.accessioned	2010-03-18T11:23:14Z
dc.date.available	2010-03-18T11:23:14Z
dc.date.copyright	1987-12
dc.date.issued	2010-03-18T11:23:14Z
dc.identifier.uri	http://hdl.handle.net/11718/1337
dc.description.abstract	The hypothesis of extended Philips Curve is examined in the present paper using the Indian data over the period 1950-51 to 1984-85. The empirical evidence does not suggest any substantial trade-off between inflation and unemployment even in the short run in the LDCs like India. The labour markets in the LDCs have such characteristics which bring them very close to the Keynesian aggregate supply curve in the short run. The formation of inflationary expectation in the study is based on adaptive expectations. The findings of the study have important implication for the choice of the strategy to deal with adverse supply shocks in LDCs.	en
dc.language.iso	en	en
dc.relation.ispartofseries	WP;1987/720
dc.subject	Inflation	en
dc.subject	Unemployment	en
dc.title	Does inflation-unemployment trade-off exist in India	en
dc.type	Working Paper	en