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单词	Phillips curve
释义	Phillips curve /ˈfɪlɪpskəːv / noun Economics A supposed inverse relationship between the level of unemployment and the rate of inflation.Clearly, the linear relationship between unemployment and inflation posited by the Phillips curve does not hold.... The Phillips curve over-predicted wage gains, let alone unit costs and inflation. Moreover, Keynesian explanations for inflation turned heavily on the Phillips curve, which postulated an inverse correlation between the level of unemployment and the rate of inflation. Origin 1960s: named after Alban W. H. Phillips (1914–75), New Zealand economist.
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