Phillips curve estimation and sacrifice output ratio in Argentina: An empirical analysis for the 2003-2022 period

Nicolás Bertholet (), Gabriel Montes Rojas () and Fernando Toledo ()
Additional contact information
Nicolás Bertholet: Universidad de Buenos Aires. Facultad de Ciencias Económicas. Buenos Aires, Argentina. CONICET-Universidad de Buenos Aires. Instituto Interdisciplinario de Economía Política. Buenos Aires, Argentina
Gabriel Montes Rojas: Universidad de Buenos Aires. Facultad de Ciencias Económicas. Buenos Aires, Argentina. CONICET-Universidad de Buenos Aires. Instituto Interdisciplinario de Economía Política. Buenos Aires, Argentina
Fernando Toledo: Universidad Nacional de La Plata

Revista de Economía Política de Buenos Aires, 2025, vol. 19, issue 30, 41-76

Abstract: We estimate a Phillips curve for Argentina during the 2003-2022 period. Controlling for the exchange rate, inflation negatively affects the unemployment rate. Thus, unemployment and inflation show a negative relationship, but it is unidirectional and asymmetrical, going from unemployment to inflation. An increase of 1 percentage point (pp) in the unemployment rate entails an accumulated drop in quarterly inflation of 7.5 pp; in contrast, a 1 pp increase in the inflation rate negatively affects unemployment of 1 pp.

Keywords: Phillips curve; inflation; unemployment; Argentina; VAR models (search for similar items in EconPapers)
JEL-codes: C32 E24 E31 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ojs.economicas.uba.ar/REPBA/article/view/3265/4284 (application/pdf)
https://ojs.economicas.uba.ar/REPBA/article/view/3265/4283 (text/html)

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:ake:repba1:2025-30

DOI: 10.56503/repba.Nro.30(2025)/3265

Access Statistics for this article

Revista de Economía Política de Buenos Aires is currently edited by Adrian H. Ramos

More articles in Revista de Economía Política de Buenos Aires from Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) Contact information at EDIRC.
Bibliographic data for series maintained by IIEP UBA-CONICET ().