POZİTİF EĞİMLİ BİR PHİLİPS EĞRİSİ MÜMKÜN MÜ?

Abstract

Inflation and unemployment, and their relationship with each other, are two broad topics among the wide range of subjects in economics literature. Several hypotheses on the relationship between these two terms were suggested by many economists at different times throughout economics history. The empirical frame of the relationship between inflation and unemployment in economics literature was formed for the first time by A.W.H. Phillips through the study called by his own name, Philips curve in 1958 which was then developed by R. G. Lipsey, P. Samuelson and R. Solow, M. Friedman and E. Phelps and Robert. E. Lucas. M. Friedman stated that Philips curve might be positively sloped at certain times even if it's temporary in the study he presented in the Nobel Economics Conference in 1976. The current study focussed on the weighted averages of 5-year-zone inflation and unemployment data of the selected countries between the years 1995-2019 as practiced by M. Friedman. The findings of the empirical analysis demonstrated that inflation and unemployment synchronized upwards and downward in the selected countries in relevant periods and Philips curve was positively sloped rather than negatively sloped.