Phillipskäyräperusteisia

Phillipskäyräperusteisia, which translates to "Phillips curve-based" in English, refers to economic policies or analyses that are primarily informed by the relationship described by the Phillips curve. The Phillips curve, originally developed by A.W. Phillips, suggests an inverse relationship between the rate of unemployment and the rate of inflation. In simpler terms, it implies that lower unemployment tends to be associated with higher inflation, and vice versa.

When economic strategies are described as Phillipskäyräperusteisia, it means they are designed with this trade-off in mind. For instance, a government or central bank might pursue expansionary monetary or fiscal policies to stimulate economic growth and reduce unemployment, while acknowledging the potential risk of increased inflation. Conversely, if inflation is a concern, policies might be implemented to cool down the economy, accepting a potential rise in unemployment as a consequence.

The relevance and stability of the Phillips curve relationship have been subjects of considerable debate among economists. Factors such as expectations of inflation, supply shocks, and changes in the structure of the labor market can influence the curve's shape and even cause it to shift. Therefore, economic approaches that are strictly Phillipskäyräperusteisia might need to be adapted to account for these complexities and changing economic conditions. The concept highlights a fundamental consideration in macroeconomic management: the potential conflict between the goals of full employment and price stability.