Philips curve | NAIRU - Natural Rate of Unemployment | Indian Economy for UPSC

The Philips curve is an economic concept that describes the inverse relationship between the unemployment rate and the inflation rate. The curve is named after economist A.W.H. Philips, who first observed this relationship in the UK in the 1950s. The basic idea behind the Philips curve is that as unemployment decreases, inflation increases, and vice versa.
NAIRU (non-accelerating inflation rate of unemployment) is the unemployment rate at which inflation is stable. It is also known as the "natural rate of unemployment" or the "structural unemployment rate." The NAIRU is the point on the Philips curve where the economy is in long-run equilibrium, where unemployment is at its lowest level without sparking an upward pressure on inflation. In other words, at the NAIRU, the economy is at full employment, and any further decrease in unemployment is likely to lead to inflation.
It's important to note that the Philips curve is not a stable relationship and can shift over time, making it difficult to use to predict the future. Additionally, the existence of NAIRU, and its level, is not always agreed upon by economists and can vary depending on the country or economy being studied.
Check the video to get an in-depth knowledge on this topic in an animated format.
For Polity Course - Download Bookstawa App [ ANDROID ]
play.google.co...
For Polity Course - Apple Devices
If you want to take this course on Apple store then you need to search 'MyInstitute' App. Download this App and enter org code - 'YLNOP' . And thats it .. you can take any Bookstawa Course.
Ancient History Playlist:
• Ancient History for UP...
Modern History Playlist:
• Modern History for UPS...
Indian Economy Playlist :
• Indian Economy By Book...
Download Indian Economy PDFs:
Telegram Link - t.me/Bookstawa

[@Bookstawa]

In Indian Polity Course for UPSC on Bookstawa App, Entire Indian Polity Syllabus is COMPLETED in detail- you will get 300+ Animated videos, downloadable PDFs, online test and Dedicated support for queries.
Bookstawa app [Android link] - play.google.com/store/apps/details?id=co.loki.ylnop1
Bookstawa app [IOS link] - apps.apple.com/in/app/myinstitute/id1472483563 ORG Code - YLNOP

[@enigofacts1615]

It's really been helpful sir in a long run with a quality content .

[@krishnajaiswal7676]

Sir please start mediaeval history as soon as possible

[@indraanjaan3211]

Thanks for your crisp elaboration of the complex topic.....i was stuck on this topic. Thanks a lot

[@ssccpo123]

Depending on your video for economics please upload more economics videos

[@meetendrasrivastava6018]

Sir....such a mind blowing way of explaining the things..... And the small detail in the pictures like at 2:33 highlighting MILTON and PHELPS is a really smart way of representing things.... Appreciate your work....

[@FANSasFRIENDS]

ekdum heavy understanding aagyi
THank you

[@user-shiva450]

Its so crisp and time saving thankyou for your content ,effort and time

[@uttsavsharma7861]

Thnq🎉❤

[@shayankhan2539]

Convenient and lucid explanation

[@Rohankumar-sk6gg]

Sir yee economics ke series kaab tak complete ho jayagi ???? 🙏

[@shimish]

Thank you sir, make more such videos

[@Motivationalstatus-e5j]

That's amazing session thank you sir 🎉🎉❤❤❤❤

[@umeshgoyal2837]

Needfull ❣️❣️❣️❣️

[@Simran62832]

Amazing explanation

[@rupeshkumarmandal2277]

Thanku so much sir ❤️🙏

[@gunjankumari594]

It was really helpful. Tysm!

[@deepamkashyap3866]

Sir please start medival his.. series

[@attamuhammadattamuhammad5351]

Sir, good explanation 🌹

[@GAURAV0154]

Thank you so so much sirrrrr❤

[@psychoquest8751]

Thankyou for making it easy 😊

[@avinashpandey937]

Sir please more video on economic upsc topics

[@sharmasharma9621]

Thank you so much sir ❤

[@khadijahaidernaqvi4618]

Thankyou 🙏

[@samakshitiwari6494]

thank you sir

[@Soul_blessed345CO]

Sir please increase the frequency of videos 🙏🏻🙏🏻

[@lakshmip.r7471]

Sir please upload the balance topic of polity.....

[@abhijeetyadav1203]

Sir please start mediaeval history as a part of history

[@danishtagotra3241]

Mahadev bless you brother...

[@kanishkasagar3601]

Sir pls medeival history ki videos bhi dalna shuru krdo plz sir🥺🥺

[@Blackpepper94]

Love you sir

[@kitsukeita]

Where is the graph to short term shift of this curve?

[@Mahima1849]

Sir please complete polity pe lectures lijiye

[@Lord_Dalhousie.]

Hello sir, l have one question on inflation
My father is a farmer and produce grapes 🍇 since 1995. I have been watching the price of grapes from 1995 till 2022 it's around 90 ₹/kg.
Prices of grapes have not increased as inflation has increased since 1995,
The cost of labour, cost of pesticides, electricity bill 💵, prices of fuel ⛽ sum of all cost of production is increase exponentially.
✨✨So question is why the price of grapes 🍇 not increased as inflation increases?🤔
✨✨ is my father's purchasing power has decreased ? 🤔

[@ManasJyotiDeka26]

People in cities buy it at an exhorbitant rate while farmers don’t get anything.. same in case of vegetables. Middleman are the real rich guys

[@sakshidubey8315]

Sir Indian economy ke notes bhi provide krdijiye

[@gauravbhatkar14]

Milton bottle + Swimmer Phelps .....
Sir aap ka padane ka tarika thoda Smart Hai

[@shivaypatel-sk9cg]

🙏🙏🙏🙏

[@ezramythri7988]

😊

[@Dhruvrathikapapa]

Sir economy kb tk complete ho jaayegi