Economics, Econometrics and Finance
4 years ago

Unemployment and Inflation Relationship Unveiled in Open Economy Analysis

RePEc: Research Papers in Economics
The Phillips Curve is Back? Using Panel Data to Analyze the Relationship Between Unemployment and Inflation in an Open Economy
John DiNardo, Mark P. Moore

Paper Summary

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The researchers studied the relationship between unemployment and inflation in an open economy. They used panel data to estimate the Phillips curve with a measure of inflation expectations. Their findings suggest that the Phillips curve is applicable in an open economy setting.