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An estimation of the Phillips curve for Swdeish data 1996 to 2013
University West, Department of Economics and IT, Division of Business Administration.
2015 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The purpose of this thesis was to study the relationship between inflation and unemployment using Swedish quarterly data from 1996 to 2013. The real interest rate was included as an additional explanatory variable when trying to explain the cyclical unemployment. This was based on microeconomic theory about optimization, because an increase of the real interest rate makes capital more expensive leading to a decrease of its use but also to a decrease of the amount of labor used (Gentle, Paudel and Upadhyaya, 2005). A vector autoregression (VAR) was estimated and diagnostic tests were performed to assess the results produced by the model and the conclusions drawn from the same. It was found that only the inflation rate and the real interest rate were significant, but contrary to what was expected the real wage growth was not found to be significant.

Abstract [sv]

Uppsatsens syfte var att studera sambandet mellan inflationen och arbetslösheten för svensk kvartalsdata från 1996 till 2013. Realräntan inkluderardes som en ytterliggare förklarande variabel i försök att förklara den cycliska arbetslösheten. Det här var baserat på mikroekonomisk teori om optimering, därför att om realräntan ökar så ökar också kapitalkostnaden vilket leder till en reducerad användning av den samma men också till att mindre arbetskraft används (Gentle, Paudel och Upadhyaya, 2005). En vektor autoregressiv (VAR) modell estimerades och diagnostiska tester utfördes för att kunna bedöma resultaten och slutsatserna dragna den samma. Det hittades att de enda signifikanta variablerna var inflationen och realräntan, men tvärtom det som förväntades var inte reallönetillväxten signifikant.

Place, publisher, year, edition, pages
2015. , 37 p.
Keyword [en]
Phillips curve; Inflation; Unemployment; Real interest rate; Real wage growth
Keyword [sv]
Phillipskurvan; Inflation; Arbetslöshet; Realränta; Reallönetillväxt
National Category
Economics
Identifiers
URN: urn:nbn:se:hv:diva-8179Local ID: NAX500OAI: oai:DiVA.org:hv-8179DiVA: diva2:855370
Subject / course
Nationalekonomi
Educational program
Ekonomprogrammet
Supervisors
Examiners
Available from: 2015-09-25 Created: 2015-09-21 Last updated: 2015-09-25Bibliographically approved

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CiteExportLink to record
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  • apa
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