Paper Summary:

This paper discusses the general pattern of the Philip's curve from 1990-1999 as what would be expected. There is an inverse relationship between the inflation rate and unemployment rate. During the years 2000-2002, the same inverse relationship exists. However, the curve changes in 2003-2005, with both inflation and unemployment increasing.

From the Paper:

"The general pattern of the Philip's curve from is what we would expect to see. There is an inverse relationship between the inflation rate and unemployment rate. When unemployment goes down, inflation increases. During the years the same inverse relationship exists. However the curve changes in with both inflation and unemployment increasing ..."

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