Explain the difference between a traditional backward-looking Pillips curve and New Keynesian Phillips Curve? Write down the for the NKPC and Provide some Intuition behind it. What are the main critics of the NKPC
Explain the difference between a traditional backward-looking Pillips curve and New Keynesian Phillips Curve? Write down the for the NKPC and Provide some Intuition behind it. What are the main critics of the NKPC