Phillips curve and its practical meaning in the context of the COVID-19 pandemic

The Phillips Curve illustrates the impact of the COVID-19 pandemic on major macroeconomic issues such as unemployment and inflation. The relevance of the study lies in the fact that the Russian economy is undergoing a major transformation in the context of the pandemic, which requires a change in the way it is managed. The main objectives are to define the practical meaning of the Phillips curve for Russia to identify ways of regulating the economy by the government, as well as to study of the curve in the context of the pandemic.