NAIRU IN UZBEKISTAN: A TRADE-OFF BETWEEN INFLATION AND UNEMPLOYMENT (2016-2022)
Journal Title: International scientific journal Science and Innovation - Year 2023, Vol 2, Issue 7
Abstract
Economic analysts frequently encourage the Fed to utilize unemployment rates or wages growth rates as leading measures of inflation and as indicators of whether to loosen or tighten monetary policy. The theory behind this strategy is based on current Keynesian macroeconomics, notably the Phillips curve and the nonaccelerating inflation rate of unemployment (NAIRU). The main purpose of this study to analyze the trade-off between inflation and unemployment of Uzbekistan and calculate NAIRU through Phillips curve approach during 6 years quarterly data from 2016-2021. In this study Hodrick-Prescott filter (HP) filter is used to calculate NAIRU and Ordinary Least Squares (OLS) model to determine the relationship between inflation and unemployment rate. VIF test is used to check collinearity or multicollinearity of determinants and result showed that there is not any collinearity between variables. OLS model indicated that there are positive and significant trade-off between inflation and unemployment, while GDP and inflation showed negative and insignificant relationship.
Authors and Affiliations
Nabiyeva Nargiza Nuriddin qizi
Keywords
Related Articles
- EP ID EP719337
- DOI 10.5281/zenodo.8183579
- Views 20
- Downloads 0
LINGUISTICS IN FUTURE ENGLISH LANGUAGE TEACHERS DEVELOPMENT OF COMPETENCIES IMPROVING METHODOLOGY
This article discusses methods and measures to improve the methods necessary for the development of language competencies among future English language teachers, mentioning various methods and techniques.
THE EXPRESSION OF PEDAGOGICAL EXEGESIS IN THE IMAGE OF A TEACHER: AN EXPLORATORY STUDY
The role of a teacher in the educational process is pivotal, as they play a vital role in shaping the learning experiences of students. Pedagogical exegesis refers to the interpretive and explanatory skills employed by t...
SIGNIFICANCE OF IMPLEMENTING WEB-BASED TECHNOLOGIES ON EDUCATION SYSTEM
Technology has the potential to significantly change education. It may support the development of positive connections between teachers and students, rethink how we collaborate and learn, close long-standing gaps in equa...
CONCEPTUAL INTEGRATION OF MYTHOLOGEME “TROJAN HORSE”
The perception and interpretation of the mythologemes occurs in different way for each person according to the national world picture. The article shows a cognitive analysis of lexical features of mythologemes in the exa...
PREPARATION OF SPECIALISTS IN VOCATIONAL EDUCATION FOR PROFESSIONAL ACTIVITIES ON THE BASIS OF THE DUAL SYSTEM
In addition to social economic developments in our country, today's educational programs have been radically changed and updated, taking into account the modern achievements of modern education, science, technology...