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Relationship Between Inflation And Unemployment: The Case Study Of Former Yugoslav Countries, Florin Aliu, Albulena Jahja, Ermal Lubishtani
Relationship Between Inflation And Unemployment: The Case Study Of Former Yugoslav Countries, Florin Aliu, Albulena Jahja, Ermal Lubishtani
UBT International Conference
Unemployment remains a constant concern for national governments and often causes social unrest. This study addresses the relationship between inflation and unemployment known as Phillips Curve, for the seven countries that emerged from former Yugoslavia. This phenomenon is investigated with annual data covering the period from 2003 to 2020. According to the OLS outcomes, there is a negative tradeoff within unemployment and inflation for Slovenia, Croatia, and Montenegro, which stands in line with the Phillips curve paradigm. In the case of Kosovo, North Macedonia, Serbia, and Bosnia, OLS findings indicate a positive relationship between inflation and unemployment. VAR results show …
Phillips Curve In Self-Management Socialism Of Yugoslavia, Florin Aliu, Isa Mulaj, Ruzhdi Matoshi
Phillips Curve In Self-Management Socialism Of Yugoslavia, Florin Aliu, Isa Mulaj, Ruzhdi Matoshi
UBT International Conference
Inflation and unemployment were two of the main issues that plagued the Socialist Federal Republic of Yugoslavia (SFRY) from 1965 to her disintegration. Economic history has taught us that uncontrolled inflation is a characteristic of the countries with a lack of democracy, but SFRY was more economically liberal and decentralized than any other communist country. Using the World Bank annual data from 1965 to 1990 for unemployment and inflation, the OLS (Ordinary Least Squares) findings demonstrate that unemployment is significant and positively affects the inflation rate, which stands against the theoretical paradigms known as the Phillips curve. The impulse response …