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and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … unemployment within the Phillips curve framework. Following the original problem formulation by Fisher and Phillips, the set of … study has validated the reliability and accuracy of the linear and lagged relationships between inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10011109998
plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate shows a picture …
Persistent link: https://www.econbiz.de/10008587820
unemployment – inflation space. …
Persistent link: https://www.econbiz.de/10009325625
Increasing returns are an incontrovertible fact since Adam Smith hailed them as the very originators of wealth, yet they play havoc with general equilibrium. They fit, in marked contrast, nicely into the structural axiomatic framework. This indicates that it is worthwhile to replace the...
Persistent link: https://www.econbiz.de/10009278289
Economic theory tells that a command system allocates resources poorly because of the impossibility of economic calculation. Therefore, once prices are freed and start to operate at quasi-equilibrium (market-clearing) levels, the hidden inefficiencies come into the open and a massive resource...
Persistent link: https://www.econbiz.de/10005837452
This paper has provided an empirical evidence to support the existence of the Phillips curve in the case of the Dominican Republic. The Phillips curve is estimated using data over the last forty years and includes a role for supply factors. The most striking feature of the model is the strong...
Persistent link: https://www.econbiz.de/10005034600
This paper has provided an empirical evidence to support the existence of the Phillips curve in the case of the Dominican Republic. The Phillips curve is estimated using data over the last forty years and includes a role for supply factors. The most striking feature of the model is the strong...
Persistent link: https://www.econbiz.de/10011109940
The concept of NAIRU summarized the observed negative correlation between the unemployment rate and the inflation rate … target both low unemployment and price stability. Therefore, it was government's role to seek a point on the trade …
Persistent link: https://www.econbiz.de/10011112751
micro-founded structural relationship between wage inflation and the unemployment rate under a sticky wage framework using …
Persistent link: https://www.econbiz.de/10011113247
We document evolving patterns in the inflation-unemployment relationship in Australia in the frequency domain under … flattened Phillips curve from 1993 onwards. Inflation lags unemployment during the first period but leads during the second …
Persistent link: https://www.econbiz.de/10011114212