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The Phillips Curve and the Global Financial Crisis: A study on the Nordic countries from 1999 to 2016
Jönköping University, Jönköping International Business School, JIBS, Economics.
Jönköping University, Jönköping International Business School, JIBS, Economics.
2018 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

This paper examines the effects of the Global Financial Crisis on the relationship between unemployment and inflation rate through the Phillips Curve in five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden, from 1999 to 2016. The Nordic countries are quite unique in the world, as they are all economically and culturally connected to each other, which allows us to analyse how the crisis affected them differently. The foundation of our research is the Phillips Curve, which shows an inverse relationship between unemployment and inflation. By using the two-way fixed effects model, we have investigated whether the Phillips Curve and the relationship still holds during the time of the crisis for the Nordic countries. The results have shown that the relationship has changed during the crisis period, which might be due to the unemployment shock and the low targeted inflation rate. 

Place, publisher, year, edition, pages
2018. , p. 38
Keywords [en]
Unemployment, inflation, Phillips Curve, economic crisis, Global Financial Crisis, Nordic countries.
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-40399ISRN: JU-IHH-NAA-1-20180108OAI: oai:DiVA.org:hj-40399DiVA, id: diva2:1218799
Subject / course
JIBS, Economics
Supervisors
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Available from: 2018-06-20 Created: 2018-06-14 Last updated: 2018-06-20Bibliographically approved

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf