EVOLUTION OF INFLATION-UNEMPLOYMENT RELATIONSHIP IN THE PERSPECTIVE OF ROMANIA’S ACCESSION TO EU

Lucian Albu ()

Journal for Economic Forecasting, 2001, issue 3, 5-23

Abstract: The author uses two models derived from the general model of stagflation in order to analyze long term trends of inflation-unemployment relationship. The first model assumes a simple linear correlation between unemployment and the growth rate of GDP, while inflation is a parabolic function of GDP. The second model extends the first one by reformulating the unemployment as depending in a quadratic way on production. Based on the second model, the author has also identified that transition passed through five distinct phases.

Keywords: inflation; unemployment; Philips curve; transition economies (search for similar items in EconPapers)
JEL-codes: E24 E31 J3 (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2001:i:3:p:5-23

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