Phelps dice que teoría estándar no explica la baja inflación

The video explores the puzzling economic situation where low unemployment rates are not leading to expected inflation. It suggests that workers, still affected by the financial crisis, are less likely to demand wage increases. Additionally, firms are hesitant to raise wages due to concerns about competition and slow productivity growth. These factors contribute to the absence of inflation despite high demand.

Why is there a lack of inflation despite a low unemployment rate?

What is the relationship between productivity growth and wage increases as discussed in the text?