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A Phillips Curve for the Dominican Republic

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Keywords
  • E24 - Employment
  • Unemployment
  • Wages
  • Intergenerational Income Distribution
  • Aggregate Human Capital
  • E31 - Price Level
  • Inflation
  • Deflation

Abstract

This paper has provided an empirical evidence to support the existence of the Phillips curve in the case of the Dominican Republic. The Phillips curve is estimated using data over the last forty years and includes a role for supply factors. The most striking feature of the model is the strong relationship between inflation and excess demand.

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