Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/49489
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dc.contributor.authorCaporale, Guglielmo Mariaen_US
dc.contributor.authorŠkare, Marinkoen_US
dc.date.accessioned2011-07-13en_US
dc.date.accessioned2011-09-14T13:12:47Z-
dc.date.available2011-09-14T13:12:47Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/49489-
dc.description.abstractIn this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119 countries over the period 1970-2010, and also carry out multivariate Granger causality tests. The empirical results strongly support the existence of a single cointegrating relationship between employment growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output growth, giving support to Phillips' Golden Triangle theory.en_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunichen_US
dc.relation.ispartofseries|aCESifo working paper: Monetary Policy and International Finance |x3502en_US
dc.subject.jelC23en_US
dc.subject.jelE24en_US
dc.subject.jelE31en_US
dc.subject.jelE60en_US
dc.subject.ddc330en_US
dc.subject.stwPhillips-Kurveen_US
dc.subject.stwBeschäftigungen_US
dc.subject.stwInflationen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwPanelen_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titleEmployment growth, inflation and output growth: Was Phillips right? Evidence from a dynamic panelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn664095992en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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