Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...

The Journal of Economic Perspectives, Vol. 37, No. 2 (Spring 2023), pp. 3-28 (26 pages) What do recent advances in economic geography teach us about the spatial distribution of economic activity? We ...

The current jobless rate of 3.4% is below the natural rate, implying labor market tightness and according to the Phillips curve construct. For the Phillips curve to "work," changes in unemployment and ...

Demand for new houses over the past 50 years has generally shifted outward with rising incomes and an increasing population, though it has shifted inward during periods of recession. Supply for new ...

First SeenFirst seen: The term supply and demand was first seen in Sir James Steuart's 1796 treatise An Inquiry Into the Principles of Political Economy. When figuring out your monthly budget, ...