Footnote:
In: Okafor. S. O. , Eyiuche, A. C. & Obi, K. O. (2004). Inflation-unemployment nexus in Nigeria: Nigeria's Philips curve experience. Journal of Economic Studies, 4(1):44-50
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 2004 erstellt
Description:
This paper which focused on unemployment inflation relationship in the Nigerian economy was embarked upon with the major objective of comparing the Nigeria’s Philips Curve with the early Philips Curve. Data on unemployment rates and inflation rates were those of the Central Bank of Nigeria. Graphical method was used for depicting the unemployment-inflation relationship. The Nigeria’s Philips Curve experience was laden with outcomes which indicate the following: (1)Labour logjam ranges were discernible in the regions of constant inflation-low unemployment and constant inflation-high unemployment (2) There were shifts in the Nigeria’s Philips Curve which contrasted sharply with the early Philips Curve (3) Actual inflation proceeded at the rate of inertial inflation in the absence of cost or demand shocks leaving unemployment in Nigeria at natural rate (4) Shifts in Nigeria’s Philips Curve pushed unemployment level beyond natural rate. It was safely concluded that Philips Curve remains valid for unemployment-inflation analysis