Cesar Albuquerque Bastos, Julio; Ferreira de Mendonça, … - In: Journal of Economic Studies 41 (2014) 5, pp. 708-720
makes sense if there is a trade-off between inflation and unemployment and when there is a causal relationship indicating … that with more inflation, unemployment is reduced (as suggested by the Phillips curve). Hence, TIP is observed by testing … the existence of cointegration between inflation rate and unemployment rate series and analyzing the sign of the estimated …