Indian Journal of Economics and Development

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Background: The relationship between labour unemployment in developing economy, Keynesian unemployment and Phillips curve is yet to be completely understood the traditional view completely separates labour unemployment in developing economy from Keynesian unemployment, this paper parts away from this view and seeks to establish a relation between them.

Findings: The presence of a trade off between inflation and unemployment in both developed and developing economy is also inquired into in this paper. Most of the economists believe that labour intensive industry is a characteristic of a developing country while capital intensive of a developed, we also inquire into this view.


Keywords

Inflation, Unemployment, Phillips Curve, Rational Expectations, JEL Classification: O11, P10, J20, J23.
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