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Past and future evolution of inflation, p(t), and unemployment, UE(t), in Japan is modeled. Both variables are … disinflation in the 1990s and deflationary period in the 2000s. In Japan, there exists a statistically reliable (R2=0.68) Phillips … linear and lagged generalized relationship between inflation, unemployment and labor force has been also obtained for Japan …
Persistent link: https://www.econbiz.de/10005260050
The Japanese economic behavior is modeled. GDP evolution is represented as a sum two components: economic tend and fluctuations. The trend is an inverse function of GDP per capita with a constant numerator. The growth rate fluctuations are numerically equal to two thirds of the relative change...
Persistent link: https://www.econbiz.de/10005623454
The evolution of the rate of price inflation, (t), and unemployment, u(t), in Japan has been modeled within the … well as the whole deflationary period started in the late 1990s. The Phillips curve for Japan confirms the original concept …
Persistent link: https://www.econbiz.de/10011260989
The Lucas critique has exposed the problem of the trade-off between changes in monetary policy and structural breaks in economic time series. The search for and characterisation of such breaks has been a major econometric task ever since. We have developed an integral technique similar to CUSUM...
Persistent link: https://www.econbiz.de/10008927057
We re-estimate statistical properties and predictive power of a set of Phillips curves, which are expressed as linear and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several relationships were estimated eight years ago. The change...
Persistent link: https://www.econbiz.de/10011109998
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework. The change in labour force is the driving force representing economic activity in the Phillips curve. For Austria, this macroeconomic variable was first tested as a predictor of...
Persistent link: https://www.econbiz.de/10011110150