Non-Linear Analysis of Post Keynesian Phillips Curve in Canada Labor Market


Bildirici M. E. , Ozaksoy F.

5th Istanbul Conference of Economics and Finance, İstanbul, Türkiye, 6 - 07 Haziran 2016, cilt.38, ss.368-377 identifier

  • Cilt numarası: 38
  • Doi Numarası: 10.1016/s2212-5671(16)30209-x
  • Basıldığı Şehir: İstanbul
  • Basıldığı Ülke: Türkiye
  • Sayfa Sayıları: ss.368-377

Özet

This paper aims to analyze Post-Keynesian Phillips Curve by using non-linear ARDL approach and non-linear Granger causality method for the period from 1957 to 2015 in Canada. This study is differed from other empirical paper by using non-linear ARDL method which determined there is long-run asymmetric relationship between the selected macroeconomic variables for Canada. Canada exhibits bi-directional causality relationship between inflation-unemployment, unemployment-economic growth and inflation-economic growth which refers that the country has flexible labor market. (C) 2016 The Authors. Published by Elsevier B.V.