Does the Phillips Curve Exist? Evidence from the Middle East and North African Countries

نویسندگان

چکیده

Abstract This study aims to explore the validity of Phillips curve for eight (8) countries from Middle East and North Africa (MENA), namely Algeria, Egypt, Jordan, Kuwait, Malta, Morocco, Saudi Arabia, Tunisia over period 1991–2019. The panel autoregressive distributed lag/pooled mean group (ARDL/PMG) estimation is employed in because nature data. results ARDL/PMG reveal that there no trade-off between inflation unemployment rates MENA long run, while a negative but insignificant relationship these two variables short run. In addition, each panel’s has also been investigated. empirical indicate run as estimated coefficients found are statistically insignificant. Hence, it concluded evidence countries.

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ژورنال

عنوان ژورنال: Journal of Central Banking Theory and Practice

سال: 2022

ISSN: ['1800-9581', '2336-9205']

DOI: https://doi.org/10.2478/jcbtp-2022-0023