Phillips Curve or Locus Critique: Time Series Evidence from Pakistan
نویسندگان
چکیده
منابع مشابه
hybrid new-keynesian phillips curve: evidence from iran
knowledge of the relationship between two phenomena (inflation and unemployment) is crucial to any economic and political decision-making process. an investigation of this relationship helps economists and policy-makers to be aware of the economy’s performance. in the present research, new-keynesians’ philips hybrid curve has been derived by using the pricing models and the assumption of price ...
متن کاملThe Fed’s perceived Phillips curve: Evidence from individual FOMC forecasts
This paper uncovers the Phillips curve trade-off perceived by U.S. monetary policymakers. For that purpose we use data on individual forecasts for unemployment and inflation submitted by each individual FOMC member, which was recently made available for the period 19921998. The results point to significant changes in the perceived trade-off over time with the Phillips curve flattening and the i...
متن کاملDoes Micro Evidence Support the Wage Phillips Curve in Canada?
The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a “wage curve,” described by a negative relation between the level of the real wage and unemployment. Real wage dynamics have...
متن کاملThe Wage Curve and the Phillips Curve
Blanchflower and Oswald (1994) have argued that, in regional data, the level of unemployment is related to the fevel of wages. This result is at variance with an application of the original Phillips curve to regional data, which would predict that the change in wages ought to be related to the unemployment rate. On the other hand, there is considerable empirical support for the expectations-aug...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economics and Behavioral Studies
سال: 2012
ISSN: 2220-6140
DOI: 10.22610/jebs.v4i4.316