Accès libre

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

À propos de cet article

Citez

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
Langue:
Anglais
Périodicité:
3 fois par an
Sujets de la revue:
Business and Economics, Business Management, other