Uneingeschränkter Zugang

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


Zitieren

1. Adebowale, K. B. (2015). The relationship between inflation and unemployment in Nigeria Retrieved from; http://i-rep.emu.edu.tr:8080/xmlui/bitstream/handle/11129/3230/adekay.pdf?sequence=1 Search in Google Scholar

2. Abu, N., (2019). Inflation and unemployment trade-off: a re-examination of the Phillips Curve and its Stability in Nigeria. Contemporary Economics, 13(1), 21-35. Search in Google Scholar

3. Ali, H. A. M. (2011). Inflation dynamics: The case of Egypt. Available at SSRN: https://ssrn.com/abstract=1987425 or http://dx.doi.org/10.2139/ssrn.198742510.2139/ssrn.1987425 Search in Google Scholar

4. Ali, M. S. B., & Mim, S. B. (2011). What drives inflation in MENA countries?’ International Journal of Economics and Finance, 3(4), 119-129.10.5539/ijef.v3n4p119 Search in Google Scholar

5. Alper, F. O. (2017). Relationship between inflation and unemployment: The ARDL bound testing approach for Turkey. Journal of International Trade and Economics Research, 1(2), 71-80. Search in Google Scholar

6. Arellano, M., & O. Bover. (1995). Another Look at The Instrumental Variable Estimation of Error-Components Models. Journal of Econometrics, 68, 29-52.10.1016/0304-4076(94)01642-D Search in Google Scholar

7. Azam, M., & Khan, S. (2014). Investigating the stability of Philips curve: panel data evidence from developing World. ASERS Publishing 2(19), 179-194.10.14505/cfs.2014.ch19 Search in Google Scholar

8. Bhattarai, K., (2016). Unemployment–inflation trade-offs in OECD countries. Economic Modelling, 58: 93–10310.1016/j.econmod.2016.05.007 Search in Google Scholar

9. Bolat, S., Tiwari, A. K., & Kyophilavong, P. (2017). Testing the inflation rates in MENA countries: Evidence from quantile regression approach and seasonal unit root test. Research in International Business and Finance, 42(c), 1089-1095.10.1016/j.ribaf.2017.07.043 Search in Google Scholar

10. Breusch TS, & Pagan AR (1980) The Lagrange multiplier test and its applications to model specification in econometrics. Rev Econ Stud, 47(1):239–25310.2307/2297111 Search in Google Scholar

11. Buba, S., & Aljadi, S. M. I. (2017). Inflation and unemployment in Nigeria: An ARDL Approach. World, 3(2), 069-074. Search in Google Scholar

12. Brechling, F., (1968). The trade-off between inflation and unemployment. The Journal of Political Economy, 76(4 Part 2), 712-73710.1086/259439 Search in Google Scholar

13. Chuku, C., Atan, J., & Obioesio, F. (2017). Testing for the stability and persistence of the Phillips Curve for Nigeria. CBN Journal of Applied Statistics, 8(1), 123-147. Search in Google Scholar

14. Dritsaki, C., & Dritsaki, M. (2012). Inflation, unemployment and the NAIRU in Greece. Procedia Economics and Finance, 1(12), 118-127.10.1016/S2212-5671(12)00015-9 Search in Google Scholar

15. Esu, G., & Atan, J. (2017). The Philip’s curve in Sub-Saharan Africa: evidence from panel data analysis. Journal of World Economic Research, 6(5), 59-66.10.11648/j.jwer.20170605.11 Search in Google Scholar

16. Fabris, N. (2018). Challenges for modern monetary policy. Journal of Central Banking Theory and Practice, 7(2), 5-24.10.2478/jcbtp-2018-0010 Search in Google Scholar

17. Fair, R. C. (1984). Estimated trade-offs between unemployment and inflation. NBER Working Paper Series, Working Paper No. 1377, 1050 Massachusetts Avenue Cambridge, MA 02138.10.3386/w1377 Search in Google Scholar

18. Friedman, M. (1968). The role of monetary policy. American Economic Review, 58, 1-17. Search in Google Scholar

19. Furuoka, F. (2008). Unemployment and inflation in the Philippines: new evidence from vector error correction model. Philippine Journal of Development, 35(1), 93-106. Search in Google Scholar

20. Furuoka, F., & Munir, Q. (2009). Phillips Curve” in selected ASEAN countries: new evidence from panel data analysis. Sunway Academic Journal, 6, 89-102. Search in Google Scholar

21. Fuhrer, J.C. (1995) The Phillips curve is alive and well. New England Economic Review, Mar, pp. 41-56. Search in Google Scholar

22. Grammy, A. P. (2019). Testing the Phillips curve hypothesis in post-revolution Iran. Journal of Developing Areas, 53(2), 1-1210.1353/jda.2019.0017 Search in Google Scholar

23. Guzel, A. E. & Okumus, I., (2020). Revisiting the pollution haven hypothesis in ASEAN-5 countries: new insights from panel data analysis. Environmental Science and Pollution Research, https://doi.org/10.1007/s11356-020-08317-y Search in Google Scholar

24. Haider, M. Z., & Dutta, C. B., (2012). Inflation–unemployment trade-off: evidence from Bangladesh Economy. Asia-Pacific Journal of Management Research and Innovation, 8(3), 227-23710.1177/2319510X1200800302 Search in Google Scholar

25. Hart, R. A. (2003). Overtime working, the Phillips curve and the wage curve. The Manchester School, 71(2), 97-112.10.1111/1467-9957.00338 Search in Google Scholar

26. Herman, E. (2010). Inflation and unemployment in the Romanian economy. Annals of the University of Petrosani, Economics, 10(2), 157-170 Search in Google Scholar

27. Ho, S. Y., & Iyke, B. N. (2019). Unemployment and inflation: evidence of a nonlinear Phillips curve in the Eurozone. The Journal of Developing Areas, 53(4), 1-15.10.1353/jda.2018.0077 Search in Google Scholar

28. Hye, Q. M. A., & Siddiqi, M. M. (2010). Stability of Phillips curve: rolling window analysis in the case of Pakistan. World Applied Science Journal, 9(6), 699-703 Search in Google Scholar

29. Islam, F., Hassan, K., Mustafa, M. & Rahman, M. (2003). The empirics of U.S. Phillips Curve: a revisit, American Business Review, 20(1), 107-112. Search in Google Scholar

30. Jamshidi, M. (2014). A Short History of the Arab World and the Arab Spring. The Future of the Arab Spring, 5–22. doi:10.1016/b978-0-12-416560-1.00001-310.1016/B978-0-12-416560-1.00001-3 Search in Google Scholar

31. Jula, D., & Jula, N. (2017). The Phillips curve for the Romanian economy, 1992-2017. Computational Methods in Social Sciences, 5(1), 36-48. Search in Google Scholar

32. Karahan, P., & Uslu, N. Ç. (2018). A dynamic analysis on the validity of the Phillips curve for Turkey. Finans Politik &Ekonomik Yorumlar, 55(636), 89-99. Search in Google Scholar

33. Khan, M. A., & Khan, A. (2018). Inflation and the economic growth: evidence from Five Asian Countries. Pakistan Journal of Applied Economics, 28(2), 235-252. Search in Google Scholar

34. Krušković, B. D. (2022). Central bank intervention in the inflation targeting. Journal of Central Banking Theory and Practice, 11(1), 67-8510.2478/jcbtp-2022-0003 Search in Google Scholar

35. Leightner, J. E. (2020). Estimates of the inflation versus unemployment tradeoff that are not model dependent. Journal of Central Banking Theory and Practice, 9(1), 5-2110.2478/jcbtp-2020-0001 Search in Google Scholar

36. Leijonhufvud, A. (1968). Comment: Is there a meaningful trade-off between inflation and unemployment? The Journal of Political Economy, 76(4), 738-74310.1086/259440 Search in Google Scholar

37. Maddala, G.S. &, Wu. S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1): 631-65210.1111/1468-0084.0610s1631 Search in Google Scholar

38. Mishkin, F. S., (2006) Monetary policy strategy: how did we get here?. NBER Working Paper No. w12515. Available at SSRN: https://ssrn.com/abstract=93033310.3386/w12515 Search in Google Scholar

39. Ojapinwa, T. V., & Esan, F. (2013). Does Philips relations really exist in Nigeria? Empirical evidence. International Journal of Economics and Finance, 5(9), 123-133.10.5539/ijef.v5n9p123 Search in Google Scholar

40. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. CESifo Working Paper (No. 1229)10.2139/ssrn.572504 Search in Google Scholar

41. Pesaran M, H. (2007) A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Economics 22(2):265–31210.1002/jae.951 Search in Google Scholar

42. Pesaran, M.H., Shin, Y. & Smith, R.P., (1999). Pooled Mean Group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621-34.10.1080/01621459.1999.10474156 Search in Google Scholar

43. Pesaran M. H., Shin Y. & Smith R. J., (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16: 289–32610.1002/jae.616 Search in Google Scholar

44. Phelps, E. (1967). Phillips curves, expectations of inflation and optimal unemployment over time. Economica, 34: 254-28110.2307/2552025 Search in Google Scholar

45. Puzan, K. A.M (2009). The inflation dynamics of the ASEAN-4, a case study of the Phillips Curve Relationship, The Journal of American Science, 5(1), 55-57 Search in Google Scholar

46. Ribba, A., (2020). Is the unemployment–inflation trade-off still alive in the Euro Area and its member countries? It seems so. The World Economy, 43(9), 2393-241010.1111/twec.13004 Search in Google Scholar

47. Roodman, D. (2006). How to Do xtabond2: An introduction to “Difference” and “System” GMM in Stata. Working paper number 103 December 2008, Centre for Global Development.10.2139/ssrn.982943 Search in Google Scholar

48. Samuelson, P. A., & Solow, R. M. (1960). Analytical aspects of anti-inflation policy. The American Economic Review, 50(2), 177-194. Search in Google Scholar

49. Sasongko, G., & Huruta, A. D. (2019). The causality between inflation and unemployment: the Indonesian evidence. Business: Theory and Practice, 20, 1-10.10.3846/btp.2019.01 Search in Google Scholar

50. Shaari, M. S., Abdullah, D. N. C., Razali, R., & Saleh, M. L. A. H. M. (2018). Empirical analysis on the existence of the Phillips curve. In MATEC Web of Conferences, 150, p. 05063). EDP Sciences.10.1051/matecconf/201815005063 Search in Google Scholar

51. Shahbaz, M., Islam, F., & Shabbir, M. S. (2012). Phillips Curve in a small open economy: a time series exploration of North Cyprus. The Bangladesh Development Studies, 35(4), 113-130. Search in Google Scholar

52. Shariff N, S. & Hamzah N, A. (2015) A robust panel unit root test in the presence of cross sectional dependence. Journal of Modern Applied Statistical Methods 14(2):159–17110.22237/jmasm/1446351180 Search in Google Scholar

53. Tang, C.F., & Lean, H.H. (2007). The stability of Phillips curve in Malaysia. ABERU Discussion Paper No 39, Monash University, Australia Search in Google Scholar

54. Umaru, A., & Zubairu, A. A. (2012). An empirical analysis of the connection between unemployment and inflation in Nigeria. Economics and Finance Review, 1(12), 42-61. Search in Google Scholar

55. Vermeulen, J.C. (2017). Inflation and unemployment in South Africa: Is the Phillips curve still dead? Southern African Business Review, 21: 20-54 Search in Google Scholar

56. Victor, V., Farkas, M. F., & Jeeson, F. (2018). Inflation unemployment dynamics in Hungary–A structured cointegration and vector error correction model approach. Theoretical and Applied Economics, 25(2, (615), 195-204. Search in Google Scholar

57. Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6), 709-74810.1111/j.1468-0084.2007.00477.x Search in Google Scholar

58. World Development Indicators (2020), the World Bank database https://data.worldbank.org/ Search in Google Scholar

59. Zayed, N. M., Islam, M. R., & Hasan, K. R. (2018). Testing Phillips Curve to examine the inflation rate regarding unemployment rate, annual wage rate and GDP of Philippines: 1950-2017. Academy of Accounting and Financial Studies Journal, 22(5), 1-9. Search in Google Scholar

eISSN:
2336-9205
Sprache:
Englisch
Zeitrahmen der Veröffentlichung:
3 Hefte pro Jahr
Fachgebiete der Zeitschrift:
Wirtschaftswissenschaften, Betriebswirtschaft, andere