The SDR has to be accepted as a liability of the IMF, has to be automatically acceptable as a medium of payment in cross-border transactions, be freely tradable and its price has to be determined by forces of demand and supply. As the SDR does not satisfy these conditions, it cannot be a reserve currency in the international payment system.
Euro area Phillips curve 2005-17, as a correlation between the compensation per employee and the broad measure of unemployment In the graph we note a non-linear empirical relationship between wage inflation and broad unemployment. What is the implication? I would read it so that the speed of wage increases will accelerate significantly only once unemployment has been substantially reduced.