- noun Economics a supposed inverse relationship between the level of unemployment and the rate of inflation.Origin1960s: named after the New Zealand economist Alban W. H. Phillips.
English new terms dictionary. 2014.
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Phillips curve — [fil′ips] n. [also P C ] a curve illustrating a theoretical inverse relationship between rates of unemployment and of inflation * * * Graphic representation of the inverse relationship between the rate of unemployment and the rate of change in… … Universalium
Phillips curve — [fil′ips] n. [also P C ] a curve illustrating a theoretical inverse relationship between rates of unemployment and of inflation … English World dictionary
Phillips curve — The Phillips curve is a historical inverse relation between the rate of unemployment and the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher the rate of increase in wages paid to labor in that… … Wikipedia
Phillips Curve — An economic concept developed by A. W. Phillips stating that inflation and unemployment have a stable and inverse relationship. According to the Phillips curve, the lower an economy s rate of unemployment, the more rapidly wages paid to labor… … Investment dictionary
Phillips curve — In a famous article on ‘The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861 1957’, published in the journal Economica (1958), the economist A. W. Phillips argued that an inverse relationship… … Dictionary of sociology
Phillips Curve — A graph that supposedly shows the relationship between inflation and unemployment . It is conjectured that there is a simple trade off between inflation and unemployment (high inflation and low unemployment, and low inflation and high… … Financial and business terms
phillips curve — ¦filə̇ps noun Usage: usually capitalized P Etymology: after A.W.H. Phillips died 1975 British (New Zealand born) economist : a graphic representation of the relation between inflation and unemployment which indicates that as the rate of either… … Useful english dictionary
Phillips curve — In economics, a measure showing the relationship between inﬂation and unemployment … Bryson’s dictionary for writers and editors
Phillips curve — graph illustrating the level of inflation as a function of the level of unemployment (Economics) … English contemporary dictionary
phillips curve — Graph of the relationship between inflation and unemployment in an economy … American business jargon