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Phillips curve in Canada: a tale of wage bargaining and tariff rate

Author

Listed:
  • Adviti Devaguptapu

    ("SRM University AP, Mangalagiri, India")

  • Pradyumna Dash

    (Indian Institute of Management Raipur)

Abstract

"In this paper, we re-examine the Phillips curve for Canada over the period of 1971(Q1)–2018(Q4) and find that the impulse response of inflation to the unemployment gap has reduced over time. On further examination, we find that changes in both tariff rate and collective wage bargaining power have led to the reduced sensitivity of inflation to the unemployment gap. On comparison, the role of change in the collective bargaining has greater influence on the reduction in the sensitivity than that of change in the tariff rate."

Suggested Citation

  • Adviti Devaguptapu & Pradyumna Dash, 2023. "Phillips curve in Canada: a tale of wage bargaining and tariff rate," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 15(3-4), pages 285-302, December.
    • Handle: RePEc:ren:journl:v:15:y:2023:i:3-4:p:285-302
    DOI: https://doi.org/10.15353/rea.v15i3-4.3660
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    More about this item

    Keywords

    Phillips curve; Time-varying parameter vector autoregressive model (TVP-VAR); price-setting behavior; wage-setting behavior;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F10 - International Economics - - Trade - - - General

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