Stability of Phillips Curve

Résumé du livre

This study employs JJ cointegration approach, vector error correction model and rolling window regression method to analysize the Phillips curve hypothesis in the case of Pakistan. The estimation results confirm cointegration between inflation rate and unemployment rate. But the rolling window regression result guides further in the period of 1981 to 1983, 1987, 1991 to 1996 and 2009 the Phillips curve hypothesis unstable in the case of Pakistan.