Testing The Phillips Curve Hypothesis In Post-Revolution Iran

Grammy, Abbas P.

doi:10.1353/jda.2019.0017

Cited by 2 publications

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“…According to Grammy (2019), the existence of prolonged inflation-unemployment trade-off might create a problem for policy-makers. If there a continuous implementation of trade-off policy, a lower unemployment rate will accelerate the already rapid inflation rate and efforts to curb inflation tend to increase the unemployment rate that remains high.…”

Section: Introductionmentioning

confidence: 99%

“…Many previous studies have explored the relationship between inflation and unemployment relationship for the case of developed countries. However, those studies only focused their analyses only on a specific country (Karanassou & Sala, 2010;Dritsaki & Dritsaki, 2012;Haug & King, 2014;Putnam & Azzarello, 2015;and Grammy, 2019). Overall, the findings of their studies implied that in anticipating the negative impact inflation, labour protection, and improvement of the investment ecosystem must be done to increase production.…”

Section: Introductionmentioning

confidence: 99%

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Inflation-Unemployment Trade-Offs In ASEAN-10

2020

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This study empirically explores the nature of inflation-unemployment dynamic causal relationships both in the short and long-run in the ASEAN-10 over the 1989-2018 period. Based on the panel cointegration test, the study documented a long-run equilibrium between inflation and unemployment. Using the Vector Error Correction Model (VECM) analysis, the study found an insignificant inflation-unemployment relationship in the short-run. However, in the long-run, inflation is found to affect the unemployment rate positively. Our results from the Variance Decompositions (VDCs) analysis also supported these findings, where the unemployment responded at the more significant percentage to shocks in inflation compared to the response of inflation to shocks in unemployment. These findings only supported the relevance of the Phillips curve theory in the long-run. Overall, these findings imply that although inflation targeting policy is not relevant to the short-run, it becomes crucial and effective to reduce the unemployment rate in ASEAN-10 in the long-run.JEL Classifications: E52, E58, J64 How to Cite:Lisani, N., Masbar, R., & Silvia, V. (2020). Inflation-Unemployment Trade-Offs In Asean-10. Signifikan: Jurnal Ilmu Ekonomi, 9(2), 241-256. https://doi.org/10.15408/sjie.v9i2.16346.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Inflation-Unemployment Trade-Offs In ASEAN-10

2020

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Does the Phillips Curve Exist? Evidence from the Middle East and North African Countries

Azam

Khan

2022

Journal of Central Banking Theory and Practice

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This study aims to explore the validity of Phillips curve for eight (8) countries from the Middle East and North Africa (MENA), namely Algeria, Egypt, Jordan, Kuwait, Malta, Morocco, Saudi Arabia, and Tunisia over the period of 1991–2019. The panel autoregressive distributed lag/pooled mean group (ARDL/PMG) estimation is employed in the study because of the nature of data. The results of ARDL/PMG reveal that there is no trade-off between inflation and unemployment rates in the panel of eight MENA countries in the long run, while there is a negative but insignificant relationship between these two variables in the short run. In addition, the trade-off between inflation and unemployment for each of the panel’s countries has also been investigated. The empirical results indicate that there is no trade-off in the short run as the estimated coefficients found are statistically insignificant. Hence, it is concluded that there is no empirical evidence of the trade-off between inflation and unemployment rates in MENA countries.

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Testing The Phillips Curve Hypothesis In Post-Revolution Iran

Cited by 2 publications

References 1 publication

Inflation-Unemployment Trade-Offs In ASEAN-10

Inflation-Unemployment Trade-Offs In ASEAN-10

Does the Phillips Curve Exist? Evidence from the Middle East and North African Countries

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