Application of the Phillips Curve in EU
Název práce: | Application of the Phillips curve in EU |
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Autor(ka) práce: | Šťastná, Zuzana |
Typ práce: | Diploma thesis |
Vedoucí práce: | Brůna, Karel |
Oponenti práce: | Chung, Su Won |
Jazyk práce: | English |
Abstrakt: | This thesis aims to explore the validity of the Phillips curve in the EU between 2000 and 2019. Using the simple linear regression model, we discover the relationship between the rate of unemployment and the inflation rate in four different EU countries and we determine whether it corresponds to the theory described by A. W. H. Phillips in 1958. We examine the nature, shifts, and slope of constructed curves together with the Okun’s law interpreted as an additional aspect to the overall analysis. Our results suggest that the relationship between inflation and unemployment rates is positive in two analysed countries between 2000 and 2006 which directly contradicts Phillips’ theory. Additionally, we discover the importance of cost factors and ineffective labour market policies and their harmful effect on the accuracy of the Phillips curve model. |
Klíčová slova: | Phillips curve; Monetary policy; Inflation; Unemployment; Okun's law |
Název práce: | Application of the Phillips Curve in EU |
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Autor(ka) práce: | Šťastná, Zuzana |
Typ práce: | Diplomová práce |
Vedoucí práce: | Brůna, Karel |
Oponenti práce: | Chung, Su Won |
Jazyk práce: | English |
Abstrakt: | This thesis aims to explore the validity of the Phillips curve in the EU between 2000 and 2019. Using the simple linear regression model, we discover the relationship between the rate of unemployment and the inflation rate in four different EU countries and we determine whether it corresponds to the theory described by A. W. H. Phillips in 1958. We examine the nature, shifts, and slope of constructed curves together with the Okun’s law interpreted as an additional aspect to the overall analysis. Our results suggest that the relationship between inflation and unemployment rates is positive in two analysed countries between 2000 and 2006 which directly contradicts Phillips’ theory. Additionally, we discover the importance of cost factors and ineffective labour market policies and their harmful effect on the accuracy of the Phillips curve model. |
Klíčová slova: | Unemployment; Okun's law; Monetary policy; Inflation; Phillips curve |
Informace o studiu
Studijní program / obor: | Finance and Accounting |
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Typ studijního programu: | Magisterský studijní program |
Přidělovaná hodnost: | Ing. |
Instituce přidělující hodnost: | Vysoká škola ekonomická v Praze |
Fakulta: | Fakulta financí a účetnictví |
Katedra: | Katedra měnové teorie a politiky |
Informace o odevzdání a obhajobě
Datum zadání práce: | 2. 9. 2019 |
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Datum podání práce: | 24. 5. 2020 |
Datum obhajoby: | 10. 6. 2020 |
Identifikátor v systému InSIS: | https://insis.vse.cz/zp/70326/podrobnosti |