Does the Phillips curve exist in the Philippines?

Fumitaka Furuoka, Qaiser Munir (qmunir@iba.edu.pk) and Hanafiah Harvey (hhh10@psu.edu)
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Hanafiah Harvey: Pennsylvania State University

Economics Bulletin, 2013, vol. 33, issue 3, 2001-2016

Abstract: This paper examines an intricate relationship between inflation rate and unemployment rate in the Philippines by employing several economic methods, including the dynamic ordinary least squares (DOLS) (Stock and Watson, 1993) and the Hodrick-Prescott filter (Hodrick and Prescott, 1997). The current research detected a long-run negative and a causal relationship between inflation rates and unemployment in the Philippines. In other words, the current study offered an additional empirical support for the existence of the Phillips curve in the developing countries, such as the Philippines.

Keywords: Price level; inflation; deflation Employment; unemployment; wages (search for similar items in EconPapers)
JEL-codes: E2 E3 (search for similar items in EconPapers)
Date: 2013-08-05
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Citations: View citations in EconPapers (3)

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