International Conference on Eurasian Economies
20-22 September 2022 – Baku - AZERBAIJAN
Paper properties
Paper ID : 2611
Status : Paper submitted to journal
Language : Turkish
Topic : Macroeconomics
Presenter: Prof. Dr. İlyas Sözen
Presentation Location : Baku
Session : 2C Tarım ve diğer sektörler
Analysis of the Validity of the Phillips Curve in Turkic Republics
Türk Cumhuriyetlerin'de Phillips Eğrisi'nin Geçerliliğinin Analizi
- Prof. Dr. İlyas Sözen (Dokuz Eylül University, Türkiye)
- Assoc. Prof. Dr. Mustafa Batuhan Tufaner (Istanbul Beykent University, Türkiye)
Abstract
The trade-off between unemployment and inflation has long been debated. The negative relationship between inflation and unemployment is explained by the Phillips Curve. Various schools of economics have different views of the Phillips Curve. The aim of the study is to analyze the validity of the Phillips Curve in Turkic Republics. In the study, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan were analyzed for the period 1991-2020. In this context, panel causality and cointegration tests were used to reveal both short- and long-term relationships. According to the results of the panel data analysis, a mutual relationship was found between unemployment and inflation both in the short-term and in the long-term.
JEL codes: E24, E31, C33
Session 2C: Tarım ve diğer sektörler
