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Phillips Curve: An Empirical Research on Romania

Author

Listed:
  • Cristina Gabriela ZAMFIR

    (Dunarea de Jos University of Galati, Romania)

  • Corina SBUGHEA

    (Dunarea de Jos University of Galati, Romania)

Abstract

This paper analyses the Phillips curve for Romania, eventually choosing the optimal type of model, while also analysing the implications on monetary policy. In order to create, test and analyse the Phillips curve, we utilised a backward-looking model. For empirical analysis we used the annual data obtained from the National Institute of Statistics for a period between 1991 and 2018.

Suggested Citation

  • Cristina Gabriela ZAMFIR & Corina SBUGHEA, 2020. "Phillips Curve: An Empirical Research on Romania," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 216-221.
    • Handle: RePEc:ddj:fseeai:y:2020:i:2:p:216-221
    DOI: https://doi.org/10.35219/eai15840409129
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    References listed on IDEAS

    as
    1. Robert J. Gordon, 2018. "Friedman and Phelps on the Phillips Curve Viewed from a Half Century's Perspective," NBER Working Papers 24891, National Bureau of Economic Research, Inc.
    2. Robert J. Gordon, 1997. "The Time-Varying NAIRU and Its Implications for Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 11-32, Winter.
    3. Robert J. Gordon, 2018. "Friedman and Phelps on the Phillips curve viewed from a half century's perspective," Review of Keynesian Economics, Edward Elgar Publishing, vol. 6(4), pages 425-436, October.
    4. Sargent, Thomas J & Wallace, Neil, 1975. ""Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 241-254, April.
    5. Sargent, Thomas J, 1971. "A Note on the 'Accelerationist' Controversy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 3(3), pages 721-725, August.
    6. Robert J. Gordon, 1998. "Foundations of the Goldilocks Economy: Supply Shocks and the Time-Varying NAIRU," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 297-346.
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