Investigating the Influence of GDP and Unemployment Rates on Inflation: An Analysis of the US Economy from 1960 to 2022
Year: 2024
Type: article
Abstract: This study investigates the impact of inflation on GDP and the unemployment rate in USA, spanning the years 1960 to 2022. Utilizing a longitudinal approach, data for the study is sourced from secondary references. The findings reveal that inflation has an insignificant effect on both GDP and unemployment. Independent variables i.e. GDP and Unemployment Rate causes 10.8 % change in dependent variable i.e. Inflation. The correlation analysis reveals a weak and insignificant relationship between inflation and GDP, indicated by a value of -0.323. Similarly, the correlation between inflation and unemployment is also insignificant, with a negative value of -0.063. In simpler terms, the data suggests that decreasing inflation could contribute to increasing GDP, and vice versa for unemployment
Authors: Rushikesh Patil, Aman Kumar
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405412628