Impact of Economic Growth and Inflation on the Unemployment Rate - Evidence from the Balkan Region

• Autorzy: Jonida Balliu , Tomasz Brodzicki
• Języki publikacji: PL

Abstrakty

EN

Research in the strand of unemployment has attracted much attention in the last two decades due to its close link with macroeconomic development as confirmed by many theoretical and empiri- cal endeavours. However, in the context of the Balkan region, empirical investigations are rare, and this study strives to fill this gap. For this purpose, the research examines the impact of eco- nomic growth and inflation on the unemployment rate. Our evidence is based on a sample of 11 countries of the Balkan region over the period 2000-2021. Our robust panel regression analysis, using static models such as the Dricroll-Kraray standard errors approach, feasible generalized least square estimations, seemingly unrelated regression, and dynamic panel estimation models, reveals that economic development and inflation reduce the unemployment rate. Theoretically, the findings mainly support Okun's Law and the Phillips curve hypothesis. Our findings suggest that policymakers may design policies to ensure equitable and sustainable economic develop- ment and a balanced monetary policy to reduce the unemployment rate in the Balkan region.(original abstract)

Słowa kluczowe

PL

Bezrobocie; Stopa bezrobocia; Wzrost gospodarczy; Inflacja; Prawo Okuna; Krzywa Phillipsa

EN

Unemployment; Unemployment rate; Economic growth; Inflation; Okun's Law; Phillips curve

• Czasopismo: International Business and Global Economy
• Rocznik: 2022
• Numer: nr 41 The Selected Economic Issues of International Markets
• Strony: 79--96

Twórcy

autor

Jonida Balliu

• University of Gdańsk, Poland

autor

Tomasz Brodzicki

• University of Gdańsk, Poland

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Identyfikatory

DOI

https://doi.org/10.26881/ibage.2022.41.05