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La tasa natural de desempleo: crítica a la curva de Phillips

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  • Oliva Sierra García

Abstract

This article synthesizes the theoretical foundations of Milton Friedman's formulations of the natural rate of unemployment. From the neoclassical perspective his theory challenged the standard policy recommendations which arise from the existence of a long run Phillips curve, via, the possibility of reducing the long run rate of unemployment at the cost of a higher rate of inflation. The concluding section of the paper highlights the economic and policy implications of the natural rate in juxtaposition with those which arise from a Keynesian perspective.

Suggested Citation

  • Oliva Sierra García, 1987. "La tasa natural de desempleo: crítica a la curva de Phillips," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 23, pages 11-53.
    • Handle: RePEc:lde:journl:y:1987:i:23:p:11-53
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    File URL: https://revistas.udea.edu.co/index.php/lecturasdeeconomia/issue/view/803
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    References listed on IDEAS

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    4. Tobin, James, 1972. "Inflation and Unemployment," American Economic Review, American Economic Association, vol. 62(1), pages 1-18, March.
    5. Turnovsky,Stephen J., 1977. "Macroeconomic Analysis and Stabilization Policy," Cambridge Books, Cambridge University Press, number 9780521291873, October.
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