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| Author: | Phelps, E.S. |
| Title: | Lessons in natural-rate dynamics |
| Journal: | Oxford Economic Papers
2000 : JAN, VOL. 52:1, p.51-71 |
| Index terms: | Productivity Unemployment Wealth |
| Language: | eng |
| Abstract: | This paper revists the dynamics of the equilibrium unemployment path specializing to the small open economy and stripping away all but one of the variables in order to focus on what the author regards as an important mechanism driving unemployment's equilibrium motion: the accumulation of private wealth in relation to productivity. |
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