Analysis of substitution changes in the Phillips curve in V4 countries over the course of economic cycles

Bozena Kaderabkova (), Emilie Jasova () and Robert Holman ()
Additional contact information
Bozena Kaderabkova: University of Economics in Prague, Fakulty of Economics
Emilie Jasova: University of Economics in Prague, Fakulty of Economics
Robert Holman: Economic University in Prague

International Journal of Economic Sciences, 2020, vol. 9, issue 2, 39-54

Abstract: The aim of the article is to determine the nature and intensity of the slope of the Phillips curves (PCs) for the workers vulnerable to unemployment in the individual phases of the economic cycle between 2000 and 2016 in the Visegrad Group (V4). We use linear regressions to substitute the household deflator of unemployment. In order to avoid a reduction in the number of observations and to reduce the validity of the estimates, which is characteristic of the Break model, we modify the one-year model of the categorical variable phase of the cycle. The results obtained are compared with the findings of international authors. Throughout the monitored period, a statistically significant negative slope of the PC was found in all V4 countries, with the highest intensity in the Czech Republic and the lowest in Hungary. The extrapolation of the trend of the current development of the phases of the economic cycle indicates the growth of the statistically confirmed negative slope of the PC in the Czech Republic, its return to Slovakia, its origin in Hungary and the return of positive inclination in Poland.

Keywords: Phillips curve; unemployment rate by gender; age and education; phase of the economic cycle; countries of V4 (search for similar items in EconPapers)
JEL-codes: E24 E32 E37 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://iises.net/international-journal-of-economi ... ication-detail-25690
https://iises.net/international-journal-of-economi ... ail-25690?download=3

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:jijoes:v:9:y:2020:i:2:p:39-54

Access Statistics for this article

International Journal of Economic Sciences is currently edited by Robert Holman

More articles in International Journal of Economic Sciences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova ().