AN EMPIRICAL STUDY OF PHILLIPS CURVE IN INDIA

作者：Mr Manoj Kumar; Prof D C Vashist

来源：International Journal of Economics and Research, 2012.

• Gross Nation Product(GNP) Deflator
• Okun&rsquo
• s law
• Adaptive Expectation
• Growth rates and Output gap ratio.

Inflation and Unemployment are the two important variables in macro economics.The phenomenon of high inflation and unemployment is generally bad and London School of Economics, who brought out a study of relationship between unemployment rate and change in money wage rates in the British economy during the period 1861-1957.The study brings out the fact that the past studies have found mixed evidence about the shape of the Phillips curve from being horizontal to vertical. The researcher has also observed that there are very few studies about the developing countries including India. The present finding does not support the hypothesis of vertical Phillips curve. There is a trade-off between prices and unemployment. Rather it suggests that there is a short run Phillips curve in India. The study is based on secondary sources of data. Regarding data source have been taken from Handbook of Statistics on Indian Economy, RBI and construction of variables, are used the Indian annual data for the period 1951-52 to 2007-08.

• 出版日期2012