5. Suppose that Inflation and Unemployment interaction is modeled by p=a-T-BU + gn dл dt du dt -=j (p = π) = -k(m-p) Find time path for p if the following data is given g= 1, j = 1,ß = 1, k = 5, m = 1 Find intertemporal equilibrium value of p. 6. Find time path for U, and describe the long-run Phillips relation
5. Suppose that Inflation and Unemployment interaction is modeled by p=a-T-BU + gn dл dt du dt -=j (p = π) = -k(m-p) Find time path for p if the following data is given g= 1, j = 1,ß = 1, k = 5, m = 1 Find intertemporal equilibrium value of p. 6. Find time path for U, and describe the long-run Phillips relation
Chapter16: Monetary Policy
Section16.A: Policy Disputes Using The Self Correcting Aggregate Demand And Supply Model
Problem 15SQ
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![5. Suppose that Inflation and Unemployment interaction is modeled by
p=a-T-BU + gn
dл
dt =j (p = n)
du
dt
= -k(m-p)
Find time path for p if the following data is given
g= 1, j = 1, p = 1, k = 5, m = 1
Find intertemporal equilibrium value of p.
6. Find time path for U, and describe the long-run Phillips relation](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F295fd57e-125d-4c83-8c30-33e119b97b32%2F73c578b5-a3ee-453f-a364-31330cb9eb31%2F3duznhs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5. Suppose that Inflation and Unemployment interaction is modeled by
p=a-T-BU + gn
dл
dt =j (p = n)
du
dt
= -k(m-p)
Find time path for p if the following data is given
g= 1, j = 1, p = 1, k = 5, m = 1
Find intertemporal equilibrium value of p.
6. Find time path for U, and describe the long-run Phillips relation
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