Date of Award
Bachelor of Arts
This research utilizes data drawn from multiple government sources regarding unemployment, consumer price index (CPI), GDP, and industrial productivity from Colombia, Japan, and the United States. The research seeks to identify common trends and characteristics of the Phillips curve by applying the Phillips curve to both developed economies, like the United States and Japan, and also developing countries like Colombia. The results suggest that while there are similarities within economies, like the inflation and unemployment comovement in the United States, each economy must be viewed and analyzed independently. There were no findings indicating that there are common differences of Phillips curve when categorized by the stage of development of a particular economy. The findings indicate that the Phillips curve still exists in certain economies, and does not in others; additionally, they indicate that the inverse correlation between inflation and unemployment continues to weaken.
Van Arnam, Connor, "The Application of the Phillips Curve in Developed and Developing Countries" (2017). Economics Student Theses and Capstone Projects. 35.