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Fumitaka Furuoka, Qaiser Munir and Hanafiah Harvey
''Does the Phillips curve exist in the Philippines?''
( 2013, Vol. 33 No.3 )
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
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
Manuscript Received : Jun 29 2012 Manuscript Accepted : Aug 05 2013

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