Testing The Existence And Stability Of Phillips Curve In Romania
The main objective of this study is to check the existence and the stability of Phillips curve for Romania, on the horizon from 1990 to 2013. According to Phillips Perron tests, all the variables are integrated of order 1. ARDL and DOLS approaches to co-integration were used to analyse the Philips relations and ECM to study short run dynamics. There is a negative relation between inflation and unemployment rate in the short run and a positive relationship in the long run in Romania. The tests like recursive residual, CUSUM and CUSUMsq tests confirm that there is a stable Philips relation.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bill Russell, Anindya Banerjee, 2006.
"The Long-Run Phillips Curve and Non-Stationary Inflation,"
Economics Working Papers
ECO2006/16, European University Institute.
- Russell, Bill & Banerjee, Anindya, 2008. "The long-run Phillips curve and non-stationary inflation," Journal of Macroeconomics, Elsevier, vol. 30(4), pages 1792-1815, December.
- Jordi Gali & Mark Gertler & David Lopez-Salido, 2005.
"Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve,"
NBER Working Papers
11788, National Bureau of Economic Research, Inc.
- Gali, Jordi & Gertler, Mark & David Lopez-Salido, J., 2005. "Robustness of the estimates of the hybrid New Keynesian Phillips curve," Journal of Monetary Economics, Elsevier, vol. 52(6), pages 1107-1118, September.
- Jordi Galí & Mark Gertler & David López-Salido, 2005. "Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve," Banco de Espa�a Working Papers 0520, Banco de Espa�a.
- Jordi Galí & Mark Gertler & J. David López-Salido, 2001. "Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve," Working Papers 44, Barcelona Graduate School of Economics.
- Schreiber, Sven & Wolters, Jurgen, 2007. "The long-run Phillips curve revisited: Is the NAIRU framework data-consistent?," Journal of Macroeconomics, Elsevier, vol. 29(2), pages 355-367, June.
- Gordon de Brouwer & Neil R. Ericsson, 1995.
"Modelling inflation in Australia,"
International Finance Discussion Papers
530, Board of Governors of the Federal Reserve System (U.S.).
- repec:cto:journl:v:24:y:2004:i:3:p: is not listed on IDEAS
- Del Boca, Alessandra & Fratianni, Michele & Spinelli, Franco & Trecroci, Carmine, 2010.
"The Phillips curve and the Italian lira, 1861-1998,"
The North American Journal of Economics and Finance,
Elsevier, vol. 21(2), pages 182-197, August.
- Alessandra Del Boca & Michele Fratianni & Franco Spinelli & Carmine Trecroci, 2008. "The Phillips Curve and the Italian Lira, 1861-1998," Mo.Fi.R. Working Papers 8, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Alessandra Del Boca & Michele Fratianni & Franco Spinelli & Carmine Trecroci, 2008. "The Phillips Curve and the Italian Lira, 1861-1998," Working Papers 2008-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
- Alessandra Del Boca & Michele Fratianni & Franco Spinelli & Carmine Trecroci, 2009. "The Phillips curve and the Italian lira, 1861-1998," Working Papers 0908, University of Brescia, Department of Economics.
- A. Özlem Önder, 2004. "Forecasting Inflation in Emerging Markets by Using the Phillips Curve and Alternative Time Series Models," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 40(2), pages 71-82, March.
- Paul Turner, 1997. "The Phillips curve, parameter instability and the Lucas critique," Applied Economics, Taylor & Francis Journals, vol. 29(1), pages 7-10.
- Graham, Liam & Snower, Dennis J., 2003.
"The Return of the Long-Run Phillips Curve,"
CEPR Discussion Papers
3691, C.E.P.R. Discussion Papers.
- Mohsen Bahmani-Oskooee & A. B. M. Nasir, 2004. "ARDL Approach to Test the Productivity Bias Hypothesis," Review of Development Economics, Wiley Blackwell, vol. 8(3), pages 483-488, 08.
- Karanassou, Marika & Sala, Héctor & Snower, Dennis J., 2005.
"A reappraisal of the inflation-unemployment tradeoff,"
Open Access Publications from Kiel Institute for the World Economy
3457, Kiel Institute for the World Economy (IfW).
- Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2005. "A reappraisal of the inflation-unemployment tradeoff," European Journal of Political Economy, Elsevier, vol. 21(1), pages 1-32, March.
- Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2002. "A Reappraisal of the Inflation-Unemployment Tradeoff," IZA Discussion Papers 636, Institute for the Study of Labor (IZA).
- Marika Karanassou & Hector Sala & Dennis J. Snower, 2002. "A Reappraisal of the Inflation-Unemployment Tradeoff," Working Papers 479, Queen Mary University of London, School of Economics and Finance.
- William A.Niskanen, 2002. "On the Death of the Phillips Curve," Cato Journal, Cato Journal, Cato Institute, vol. 22(2), pages 193-198, Fall.
- Frédérick Demers, 2003. "The Canadian Phillips Curve and Regime Shifting," Working Papers 03-32, Bank of Canada.
- Dave Turner & Elena Seghezza, 1999. "Testing for a Common OECD Phillips Curve," OECD Economics Department Working Papers 219, OECD Publishing.
- Andrew Atkeson & Lee E. Ohanian., 2001. "Are Phillips curves useful for forecasting inflation?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-11.
- Fumitaka Furuoka, 2007. "Does the “Phillips Curve” Really Exist? New Empirical Evidence from Malaysia," Economics Bulletin, AccessEcon, vol. 5(16), pages 1-14.
- Richard Reichel, 2004. "On the Death of the Phillips Curve: Further Evidence," Cato Journal, Cato Journal, Cato Institute, vol. 24(3), pages 341-348, Fall.
- Paul, Biru Paksha, 2009. "In search of the Phillips curve for India," Journal of Asian Economics, Elsevier, vol. 20(4), pages 479-488, September.
- M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
- Thouraya Boujelbene Dammak & Younes Boujelbene, 2009. "The nature of the Phillips curve in Tunisia: new empirical evidence," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 2(2), pages 126-143.
When requesting a correction, please mention this item's handle: RePEc:mje:mjejnl:v:10:y:2014:i:1:p:67-74. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Eryk Wdowiak)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.