Page 221 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI-23: iPilps vkr ivSlySx

pRiqSq dI byrojgwrI dr (N) AnulMb AkS qy zIro (0) pRiqSq sPIiq dr (p) qy brwbr huMdy hn[ hux mMn lvO È؇
ik ArQivvsQw B ibMdu qy kMm kr rhI hY[ jykr hux smsq mMg vD`weI jWdI hY qW ieh byrojgwrI dr nUM OT
(2%) qy kMm krdI hY Aqy mjdUrI dr dI hr swl OS (4%) q`k vD`WdI hY[ jykr imhnq aqpwdkqw 2% hr
swl qy v`DdI rihMdI hY qW kImq-pD`r vI ic`qr ivc OS qy 2% dI dr nwl vDygw[ hux ArQivvsQw C ibMdu
qy kMm krdI hY[B ibMdu C ibMdu nUM ArQivvsQw dy bdlwv qo byrojgwrI T 2% ibMdu q`k G`t ho jWdI hY[ jykr
B Aqy C ibMduAW nUM imlwieAw jWdw hY qW PC iPlIps vkr dw inrmwx huMdw hY[ ies qrW, mudrw mjdurI dr
ivc virDI jdoN imhnq aqpwdkqw qoN v`D hovygI qW auh sPIiq ilAweygI[ sPIiq nMU rokx dy leI, mjdUrI
virDI nUM imhnq aqpwdkqw dy pD``r (OM) qy rKx dy leI byrojgwrI dI ON dr sihx krxI hI pvygI[

È؇√ tc Je osQ fy, ek¡x de gksrh gS vkSj csjkstxkjh vfèkd rks Jfed pkyw njksa ls de ij viuh lsok,¡
nsus osQ fy, RkS;kj ugha gksrs gSaA

PC vkr dI AwkrqI A`gy ieh suJwv vI idMdI hY ik jdoN byrojgwrI dI dr 5½ % qoN G`t ( Bwv A ibMdU dy K`by
pwsy) hY qW imhnq dI mMg imhnq dI pUriq qoN v~D hY Aqy ies nwl mudrw mjdUrI drW vD`dIAW[dujy pwsy, jdoN
byrojgwrI dr 5½ % qo v`D hY (A ibMdu dy s`jy pwsy) qW imhnq dI pUriq imhnq dI mMg qoN v`D hY jo mjdUrI drW
nUM G`t krdI hY[Bwv ieh hY ik byrojgwrI dI OA dr qy jo 5½ % hr swl hY, mjdUrI drW siQr rihxgIAW[
ieh iDAwn rKxw cwihdw hY ik PC ‘prMprwgq’ (Conventional) jW mUl Q`ly nUm Fwl PIilps vkr hY jo
byrojgwrI dI dr Aqy mjdUrIAW ivc bdlwv dI dr dy ivc iek siQr Aqy ivpirq sMbMD nUM pRkt krdw hY[
√ÚÀ ÓπÒª’‰ (Self Assessment)

irkq QwvW ƒ Bro (Fill in the blanks):
1. iPilps vkr byrojgwrI dI dr Aqy ………………… bdlwvW dI dr iv`c sMbD dw inrISx krdw
hY[

2. jdo byrojgwrI bhuq huMdI hY, qW mudrw mjdUrI drW dy v`Dx dI dr ……………… huMdI hY[

23.2 PRIfmYn dw ivcwr : lMmy smy dw iPilps vkr
(Friedman’s View : The Long-run Phillips Curve)
ArQSwSqirAW ny iPilps vkr dI Alocxw kIqI hY Aqy keI QWvW qy sMSoDn vI kIqw hY[ auhnW dw mq hY ik
iPilps vkr QoVy smy nwl sMbD rKdw hY Aqy siQr nhI rihdW[ ies sPIiq dI pRqXwSwAW iv`c bdlwv dy nwl
srk jwdW hY[ lMmy smy iv`c sPIiq Aqy rojgwr iv`c ivinmX (trade-off) nhI hudw hY[ ien mqW dI sQwpxw
PRIfmYn Aqy PYlps (Friedman and Phelps) ny kIqI hY Aqy iehnW dw isDWq “qvrxvwdI” (accelerationist)
jW “AnukUilq pRqXwSwvW” (adaptive expectations) pirklpnw dy nW qo pRisD hY[
PRIfmYn dy muqwbk sPIiq Aqy byrojgwrI dy iv`c ivinmX dw vrxn krx dy leI iek siQr Qly s`jy pwsy FwlU
iPilps vkr mwnx dI koeI lox nhI hY[ hwikkq iv`c ieh sMbD iek QoVy smy dI G`txw hY[ pr keI cr
hody hn ijnW dy kwrx iPilps vkr lMmy smy iv`c srkdw hY[ iedy iv`c sb qo m`hqvpurx cr (variable)
sPIiq dI pRqXwiSq dr hY[ jdo q`k sPIiq dI vwsqivk dr Aqy pRqXwiSq dr dy iv`c AMqr hY qd q`k Qly
s`jy pwsy FwlU iPilps vkr hovygw[ pr jdo ieh AMqr lMmy smy iv`c Kqm ho jwdW hY qW iPilps vkr AnulMb
(vertical) ho jwdW hY[ iesdI ivAwiKAw krx dy leI PRIfmYn ‘byrojgwrI dI kudrqI dr’ (Natural rate of
unemployment) dI Dwrxw ƒ pyS krdw hY[ ieh byrojgwrI dI auh dr hY ijs qy ArQ-ivvsQw hmySw ApxI
sNrcnw kimAW dy kwrx itkdI hY[ ieh auh byrojgwrI dI dr hY ijsdy Qly sPIiq dr v`DdI hY Aqy ijsdy au`qy

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