Does the Phillips curve exist in the Philippines?
AbstractThis paper examines an intricate relationship between inflation rate and unemployment rate in the Philippines by employing several economic methods, including the dynamic ordinary least squares (DOLS) (Stock and Watson, 1993) and the Hodrick-Prescott filter (Hodrick and Prescott, 1997). The current research detected a long-run negative and a causal relationship between inflation rates and unemployment in the Philippines. In other words, the current study offered an additional empirical support for the existence of the Phillips curve in the developing countries, such as the Philippines.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 33 (2013)
Issue (Month): 3 ()
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Price level; inflation; deflation Employment; unemployment; wages;
Find related papers by JEL classification:
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
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