The purpose of this paper is to analyse Okun's law for the Spanish regions over the period
1980–2004. Based on its “gap” specification, the results show that an inverse relationship …

An often applied labour market policy to combat unemployment is to stimulate unemployed
individuals to start their own businesses. Such policy may at least, temporarily lead to …

The response of US inflation to the high levels of spare capacity during the Great Recession
of 2007–09 was rather muted. At the same time, some have argued that the short-term …

Abstract Should the South African Reserve Bank (SARB) lower the inflation target (IT) band?
Does lowering the IT band impact the relationship between GDP growth and inflation? This …

This paper addresses the various methodological issues surrounding vector
autoregressions, simultaneous equations, and chain reactions, and provides new evidence …

The literature on the Phillips curve in South Africa finds little evidence of the effect of demand
pressure on the inflation rate. Using quarterly data from 1960–2020, this paper shows that …

We derive a traditional Phillips curve (TPC) under the assumption that a fraction of firms sells
output at optimal prices, while the other fraction sells at contract prices. Our derivation …

This paper examines the behaviour of inflation, output, and unemployment in Sub-Saharan
Africa (SSA) countries and shows that the predictions of the Phillips curve and Okun's law …

Spain has experienced a history of chronically high and intractable unemployment. The Job
Guarantee has been theorized as a policy proposal that aims to produce tight full …

Phillips curves are generally estimated under the assumption of linearity and parameter
constancy. The conventional Phillips curve argues that there is a trade-off or negative …