Does Philips Relations Really Exist in Nigeria? Empirical Evidence

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dc.contributor.authorOjapinwa, T.V
dc.contributor.authorEsan, F
dc.date.accessioned2017-11-01T10:51:40Z
dc.date.available2017-11-01T10:51:40Z
dc.date.issued2013
dc.descriptionStaff Publicationen_US
dc.description.abstractThe paper examines the existence and the stability of Phillips relations for Nigeria, using time series data from 1970 to 2010. Graphical, Augmented Dickey Fuller and Phi lip Peron unit root tests were employed to check for stationarity. ARDL and DOLS general to specific approaches to cointegration have been used to explore the Phi lips relations and ECM to understand short run dynamics. The estimates shows that relation between the change in inflation rate and the unemployment rate is theoretically negative in the short run-a low unemployment rate leads to an increase in the inflation rate and therefore an acceleration of the price level however,the relation became non existence in the long run with positive relationship between inflation and unemployment signifying stagflation. Meanwhile, recursive residual, CUSUM and CUSUMsq tests confirm a stable Philips relation.en_US
dc.identifier.citationOjapinwa, T.V and Esan, F (2013) Does Philips Relations Really Exist in Nigeria? Empirical Evidence. International Journal of Economics and Finance, Vol. 5,(9).en_US
dc.identifier.issn1916-971X
dc.identifier.issn1916-9728
dc.identifier.urihttp://ccsenet.org/journal/index.php/ijef/article/view/29869/17727
dc.identifier.urihttp://ir.unilag.edu.ng:8080/xmlui/handle/123456789/2768
dc.language.isoenen_US
dc.publisherCanadian Center of Science and Educationen_US
dc.subjectPhillips Curveen_US
dc.subjectDynamic modelen_US
dc.subjectADFen_US
dc.subjectCo integration,en_US
dc.subjectDOLS,en_US
dc.subjectNigeriaen_US
dc.titleDoes Philips Relations Really Exist in Nigeria? Empirical Evidenceen_US
dc.typeArticleen_US
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