Felipe Muller

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Let us put the question another way; why would such technological developments change the slope and/or position of the Phillips curve? With the same level of overall unemployment, why would the associated aggregate wage/price outcome be less? Here the suggestion is that workers in the unskilled (gig) economy may have less relative bargaining power, and are less unionised, than those who previously worked in semi-skilled areas.
The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
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