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  • 31.2: Explaining Inflation–Unemployment Relationships
    https://socialsci.libretexts.org/Bookshelves/Economics/Principles_of_Economics_(LibreTexts)/31%3A_Inflation_and_Unemployment/31.2%3A_Explaining_InflationUnemployment_Relationships
    The Fed shifted to a contractionary monetary policy in 1988, so that inflation during the 1986–1989 Phillips phase never exceeded 4%. When oil prices rose at the outset of the Persian Gulf War in 1990...The Fed shifted to a contractionary monetary policy in 1988, so that inflation during the 1986–1989 Phillips phase never exceeded 4%. When oil prices rose at the outset of the Persian Gulf War in 1990, the resultant swings in inflation and unemployment were much less pronounced than they had been in the 1970s.
  • 16.2: Explaining Inflation–Unemployment Relationships
    https://socialsci.libretexts.org/Bookshelves/Economics/Principles_of_Macroeconomics_(LibreTexts)/16%3A_Inflation_and_Unemployment/16.2%3A_Explaining_InflationUnemployment_Relationships
    The Fed shifted to a contractionary monetary policy in 1988, so that inflation during the 1986–1989 Phillips phase never exceeded 4%. When oil prices rose at the outset of the Persian Gulf War in 1990...The Fed shifted to a contractionary monetary policy in 1988, so that inflation during the 1986–1989 Phillips phase never exceeded 4%. When oil prices rose at the outset of the Persian Gulf War in 1990, the resultant swings in inflation and unemployment were much less pronounced than they had been in the 1970s.

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