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Viability of the Phillips Curve for the Indian Economy

Journal: International Journal of Mechanical and Production Engineering Research and Development (IJMPERD ) (Vol.10, No. 3)

Publication Date:

Authors : ;

Page : 11931-11946

Keywords : Granger Causality; Inflation; Unemployment; Phillips Curve; Quantitative Easing;

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The reason of the research is to assess the relation between unemployment rate and inflation rate in the Indian economy. The research is based on secondary data for 2000-2019 period. The study uses Granger Causality test to identify causal association between unemployment rate and inflation rate. The paper concludes that unemployment rate and inflation rate has no causality in India. The finding does not assist presence of Phillips curve in India. Analysis has also been made with respect to monetary and fiscal policy measures taken at the time of Covid 19.Relationship between inflation and unemployment has also been studied through Quantitative Easing (US and India).The research concludes that even Quantitative Easing presents a break off in relation between the two variables

Last modified: 2020-10-05 15:09:30