Year: 2023
Type: article
Abstract: The trade-off between unemployment and inflation has long been debated. The negative relationship between inflation and unemployment is explained by the Phillips Curve. Various schools of economics have different views of the Phillips Curve. The aim of the study is to analyze the validity of the Phillips Curve in Turkic Republics. In the study, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Turkmenistan and Uzbekistan were analyzed for the period 1991-2020. In this context, panel causality and cointegration tests were used to reveal both short- and long-term relationships. According to the results of the panel data analysis, a mutual relationship was found between unemployment and inflation both in the short-term and in the long-term.
Source: Journal of Eurasian Economies
DOI: 10.36880/j02.1.0120
Authors: İlyas Sözen, Mustafa Batuhan Tufaner
Institutions: Dokuz Eylül University, Beykent University
Language: English
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4316034919