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The Analysis of the Validity of the Phillips Curve in Turkey via the Fourier Cointegration and Causality Tests

Yıl 2021, Cilt 10, Sayı 4, 3173 - 3190, 30.12.2021
https://doi.org/10.15869/itobiad.918514

Öz

Inflation and unemployment indicators are among the most significant success criteria of a country’s economy. Thus, since the increase in inflation and unemployment rates decreases the welfare levels of countries, policymakers aim to keep both inflation and unemployment at low levels and establish their monetary and fiscal policies accordingly. According to the Phillips curve, which reveals the correlation between inflation and unemployment in the macroeconomic literature, an increase in inflation leads to a decrease in unemployment, and while inflation decreases, unemployment increases, which indicates an inverse correlation between inflation and unemployment. In this respect, it is not possible to find a solution for both inflation and unemployment simultaneously with the policies to be implemented if the Phillips curve is valid in the economy.
This study aims to reveal whether the Phillips curve is valid or not by investigating the correlation between inflation and unemployment, which were among the most important economic problems within the 2006:01 – 2020:11 period in Turkey. In line with this purpose, the Fourier ADF and Fourier KPSS analyses were carried out first, and it was concluded that the relevant variables were not stationary at the level, and they were stationary in their first differences. With the Fourier cointegration analysis conducted later, no long-run correlations between the variables were determined. Finally, the Single Fourier-Frequency Toda & Yamamoto causality analysis was carried out, and it was attempted to reveal whether there was a short-run correlation between the variables. According to the results of the causality analysis, no causality correlations were observed both from inf to unemp and from unemp to inf, and it was revealed that changes in inflation did not influence unemployment, and changes in unemployment did not influence inflation in the short run. In this context, it was concluded that the Phillips curve, suggesting an inverse correlation between inflation and unemployment, was not valid for Turkey within the framework of the period considered and the analyses performed. 

Kaynakça

  • Adebowale, K. B. (2015). “The Relationship Between Inflation and Unemployment in Nigeria”. Master of Science in Economics, Eastern Mediterranean University, Gazimağusa, North Cyprus:1- 60.
  • Akiş, E. (2020). “The Relationship Between Inflation and Unemployment in Turkey (2005 – 2020)”. Van Yüzüncü Yıl University the Journal of Social Sciences Institute, (49), 403-420.
  • Akkuş, G. E. (2012). “Phillips Curve: Inflation-Unemployment Trade – off: A Theoretical Examination”. Istanbul Journal of Economics, 62 (2), 99-151.
  • Ali, B. and Altıntaş, T. (2015). “Time Series Analysis: A Case Study on Forecasting Turkey’s Inflation and Unemployment”. Journal of Anadolu Bil Vocational School of Higher Education, 39, 67-75.
  • Alper, F. Ö. (2017). “Relationship Between Inflation and Unemployment: The ARDL Bound Testing Approach for Turkey”. Journal of International Trade and Economic Researches, 1 (2), 71-80.
  • Altay, B., Tuğcu, C. T. and Topçu, M. (2011). “The Causality Between Unemployment Rate and Inflatıon Rate: The G8 Countries Case Study”. Afyon Kocatepe University Journal of Economics and Administrative Sciences, 8 (2), 1-26.
  • Arabacı, Ö. and Eryiğit, K. Y. (2012). “A Thresold Regression Estimation of Phillips Curve: Turkey Case”. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 7, 29-47.
  • Bhattarai, K. (2004). “Unemployment-Inflation Trade-offs in OECD Countries: Lessons from Panel Data and Theories of Unemployment”, (12) (PDF) Unemployment-inflation Trade-offs in OECD Countries: Lessons from Panel data and Theories of Unemployment (researchgate.net).
  • Çatık A. N., Martin, C. and Önder, A. Ö. (2008). "Relative Price Variability and the Philips Curve: Evidence from Turkey". Working Papers 0807.
  • Daly, M. C. and Hobijn, B. (2014). “Downward Nominal Wage Rigidities Bend the Phillips Curve”. Federal Reserve Bank of San Francisco Working Paper Series, 1-47.
  • Dereli, D. D. (2019). “The Relationship Between Inflation and Unemployment in Turkey: An ARDL Bounds Testing Approach”. Kırklareli University Journal of the Faculty of Economics and Administrative Sciences, 8 (2), 246-257.
  • De Veirman, E. (2007). “Which Nonlinearity in the Phillips Curve? The Absence of Accelerating Deflation in Japan”, https://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Discussion%20papers/2007/dp07-14.pdf.
  • Dritsaki, C. and Dritsaki, M. (2012). “Inflation, Unemployment and the NAIRU in Greece”. Procedia Economics and Finance, 1, 118-127.
  • Eita, J. H. and Ashipala, J. M. (2010). “The Determinants of Unemployment in Namibia”. International Journal of Business and Management, 5(10), 92 – 104.
  • Elliot, B. (2015). “The Relationship Between Inflation and Unemployment in Ghana: Analysis of the Philips Curve”. African Journal of Economic Review, 3(2), 117-124.
  • Erdil Şahin, B. (2019). “Analysis of The Relationship Between Inflation and Unemployment in Turkey Via Vector Error Correctıon Model”. Journal of Financial Solution, 29 (152), 63-75.
  • Furuoka, F. (2007). “Does the Phillips Curve Really Exist? New Empirical Evidence from Malaysia for the Period 1975-2004”. Economic Bulletin, 5 (16), 1-14.
  • Gaiotti, E. (2010). “Has Globalization Changed the Phillips Curve? Firm-Level Evidence on the Effect of Activity on Prices”, https://www.ijcb.org/journal/ijcb10q1a3.pdf.
  • Göçer, İ. (2016). “Phillips Curve Theory is Valid in Turkey? An Econometric Analysis with Structurel Break”. Journal of Aydın Faculty of Economics, 1 (1), 50-62.
  • Gül, E., Kamacı, A. and Konya, S. (2014). “The Causal Relationship Between Inflation and Unemployment: A Panel Cointegration and Causality Analysis”. In International Conference on Eurasian Economies (Vol. 1).
  • Haider, M. Z. and Dutta, C. B. (2012). “Inflation–Unemployment Trade-off: Evidence from Bangladesh Economy”. Asia-Pacific Journal of Management Research and Innovation, 8(3), 227-237.
  • Herman, E. (2010). “Inflation and Unemployment in the Romanian Economy”, http://www.economics-ejournal.org/economics/discussionpapers/2009-43.
  • Karacan, R. (2018). “Phillips Curve Approach to Causality Between Inflation and Unemployment in Turkey”. Social Mentality and Researcher Thinkers Journal, 4 (10), 242-249.
  • Kasseh, P. A. (2018). “The Relation Between Inflation and Unemployment in the Gambia: Analysis of the Philips Curve”. Journal of Global Economics, 6(02), 6-12.
  • Kichian, M. (2001). “On the Nature and the Stability of the Canadian Phillips Curve”. Bank of Canada Working Paper. (2001 – 4).
  • Kuştepeli, Y. (2005). “A Comprehensive Short-run Analysis of a (Possible) Turkish Phillips Curve”. Applied Economics, 37, 581-591.
  • Maden, S. I., Baykul, A. and Akgün, E. (2018). “Analysis of Relationship Between Inflation and Unemployment by Time Series After 1980 in Turkey”. The Journal of Kesit Academy, 13, 53-63.
  • Mangır, F. and Erdoğan, S. (2012). “The Relationship Between Inflation and Unemployment in Turkey (1990-2011)”. Finance, Politics and Economic Reviews, 49, 77-98.
  • Mangnejo, G. M., Mahar, S. W. and Ahmed, B. (2020). “Inflation and Unemployment in Pakistan: An Empirical Analysis”. Pakistan Social Sciences Review, 4(2), 306-318.
  • Nwala K. (2003). “Is There Still an Unemployment and Inflation Trade-off”. International Advances in Economic Research, 2003.
  • Ogbokor, A. C. (2005). “The Applicability of the Short-run Phillips Curve to Namibia”. Journal of Social Sciences, 1 (4): 243-245.
  • Orji, A., Anthony-Orji, O. I. and Okafor, J. C. (2015). “Inflation and Unemployment Nexus In Nigeria: Another Test of The Phillip’s Curve”, Asian Economic and Financial Review, 5(5), 766-778.
  • Ormerod, P., Rosewell, B. and Phelps P. (2009). “Inflation/Unemployment Regimes and the Instability of the Phillips Curve”. Economics, Discussion Paper,No.43, https://www.researchgate.net/publication/46457959_InflationUnemployment_Regimes_and_the_Instability_of_the_Phillips_Curve/link/0e60be81f0c493afa4b15544/download.
  • Önder, A. Ö. (2006). “The Stability of the Turkish Phillips Curve and Alternative Regime Shifting Models”. Ege University Working Papers in Economics 2006, Working Paper No: 06/02.
  • Özçelik, Ö. and Uslu, N. (2017). “Analysis of Relationship Among Economic Growth, Unemployment and Inflation by VAR Model: The Case of Turkey (2007 - 2014)”. Ekev Journal of Academy, 69, 31-51.
  • Özer, M. O. (2020). "Analysis of the Long-Term Relationship Between Inflation and Unemployment Rates in Turkey: Fourier Approach to Phillips Curve”. Pamukkale University Journal of Social Sciences Institute, 39, 179-192.
  • Öztürk, S. and Emek, M. L. (2016). “Phillips Curve Analysis for Turkey by April and October Datas Belong the Years Between 1997-2006”. Balkan Journal of Social Sciences, 5, 64-74.
  • Petek, A. and Aysu, Y. (2017). “Philips Curve: Turkey Case (1980-2015)”. Journal of Current Researches on Business and Economics, 7, 53-64.
  • Phillips, A.W. (1958). “The Relation Between Unemployment and The Rate of Change of Money Wage Rates in the United Kingdom: 1861-1957”. Economica, 25, 283-299.
  • Russell, B. and Banerjee, A. (2008). “The Long-Run Phillips Curve and NonStationary Inflation”. Journal of Macroeconomics, 30, 1792-1815.
  • Samanhyia, S. (2014). “The Expectations - Augmented Philips Curve Evidence from Ghana”. International Journal of Economics. Commerce and Management, II(11), 1-21.
  • Singh, B. K., Kanakaraj, A. and Sridevi, T. O. (2010). “Revisiting the Empirical Existence of the Phillips Curve for India”. MPRA Munich Personal RePEc Archive, MPRA Paper No. 31793.
  • Sköld, E. and Tesfay, K. (2020). “The Relationship Between Inflation and Unemployment in Sweden, https://www.diva-portal.org/smash/get/diva2:1438547/FULLTEXT01.pdf.
  • Tabar, Ç. and Çetin, I. K. (2016). “Phillips Curve Analysis in the Case of Turkey”. Journal of Life Economics, 3 (4): 79-100.
  • Tajra, H.F. (1999). “The Phillips Curve in Brazilian Economy after Real Plan”. The George Washington University, The Minerva Program, 8-45, http://www.gwu.edu/~ibi/minerva/Fall1999/Tajra.Haroldo.pdf.
  • Tobin, J. (1980). “Stabilization Policy Ten Years After”. Brookings Papers on Economic Activity, No: 1, 19-71.
  • Turner, P. and Benavides, G. (2001). “The Demand for Money and Inflation in Mexico 1980-1999: Implications for Stability and Real Seigniorage Revenues”. Applied Economics Letters, 8, 775-778.
  • Yılmaz, F., Şeker, O. and Pektaş, E. (2019). “Testing the Validity of the Phillips Curve for Turkey with Vector Autoregressive and Markov Switching Models on the Basis of Inflation and Unemployment”. International Conference on Eurasian Economies 2019.

Türkiye’de Phillips Eğrisi’nin Geçerliliğinin Fourier Eşbütünleşme ve Fourier Nedensellik Testleri ile Analizi

Yıl 2021, Cilt 10, Sayı 4, 3173 - 3190, 30.12.2021
https://doi.org/10.15869/itobiad.918514

Öz

Bir ülke ekonomisinin en önemli başarı ölçütleri arasında enflasyon ve işsizlik göstergeleri yer almaktadır. Nitekim enflasyon ve işsizlik oranlarının artması ülkelerin refah düzeylerini azalttığı için politika yapıcılar hem enflasyonun hem de işsizliğin düşük düzeylerde kalmasını amaçlamakta ve bu doğrultuda para ve maliye politikalarını yapmaktadırlar. Makroekonomi literatüründe enflasyon ile işsizlik arasındaki ilişkiyi ortaya koyan Phillips Eğrisi’ne göre, enflasyon arttığı zaman işsizlik azalırken enflasyon azalırken ise işsizlik artmakta yani enflasyon ile işsizlik arasında ters yönlü bir ilişki bulunmaktadır. Bu bağlamda ekonomide Phillips eğrisinin geçerli olması durumunda uygulanacak politikalar ile hem enflasyona hem de işsizliğe aynı anda çözüm bulmak mümkün olmamaktadır.
Bu çalışmanın amacı, Türkiye’de 2006:01 – 2020: 11 dönemi için en önemli ekonomik sorunlar arasında yer alan enflasyon ile işsizlik arasındaki ilişkiyi araştırarak Phillips eğrisinin geçerli olup olmadığını ortaya koymaktır. Bu amaç doğrultusunda ilk olarak Fourier ADF ve Fourier KPSS analizleri yapılarak ele alınan değişkenlerin düzeyde durağan olmadıkları ve birinci farklarında durağan oldukları sonucuna ulaşılmıştır. Daha sonra yapılan Fourier eşbütünleşme analizi ile değişkenler arasında uzun dönemli ilişkinin olmadığı belirlenmiştir. Son olarak Single Fourier-Frequency Toda & Yamamoto nedensellik analizi yapılarak değişkenler arasındaki kısa dönemli ilişkinin olup olmadığı ortaya konulmaya çalışılmıştır. Yapılan nedensellik analizi sonuçlara göre, hem enflasyondan işsizliğe hem de işsizlikten enflasyona doğru nedensellik ilişkisi olmadığı görülmüş olup enflasyondaki değişimlerin işsizlik üzerinde ve işsizlikteki değişimlerin ise enflasyon üzerinde kısa dönemde etkili olmadığı ortaya konulmuştur. Bu bağlamda enflasyon ile işsizlik arasında ters yönlü ilişki olduğunu ileri süren Phillips eğrisinin Türkiye için ele alınan dönem ve yapılan analizler çerçevesinde geçerli olmadığı sonucuna ulaşılmıştır.

Kaynakça

  • Adebowale, K. B. (2015). “The Relationship Between Inflation and Unemployment in Nigeria”. Master of Science in Economics, Eastern Mediterranean University, Gazimağusa, North Cyprus:1- 60.
  • Akiş, E. (2020). “The Relationship Between Inflation and Unemployment in Turkey (2005 – 2020)”. Van Yüzüncü Yıl University the Journal of Social Sciences Institute, (49), 403-420.
  • Akkuş, G. E. (2012). “Phillips Curve: Inflation-Unemployment Trade – off: A Theoretical Examination”. Istanbul Journal of Economics, 62 (2), 99-151.
  • Ali, B. and Altıntaş, T. (2015). “Time Series Analysis: A Case Study on Forecasting Turkey’s Inflation and Unemployment”. Journal of Anadolu Bil Vocational School of Higher Education, 39, 67-75.
  • Alper, F. Ö. (2017). “Relationship Between Inflation and Unemployment: The ARDL Bound Testing Approach for Turkey”. Journal of International Trade and Economic Researches, 1 (2), 71-80.
  • Altay, B., Tuğcu, C. T. and Topçu, M. (2011). “The Causality Between Unemployment Rate and Inflatıon Rate: The G8 Countries Case Study”. Afyon Kocatepe University Journal of Economics and Administrative Sciences, 8 (2), 1-26.
  • Arabacı, Ö. and Eryiğit, K. Y. (2012). “A Thresold Regression Estimation of Phillips Curve: Turkey Case”. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 7, 29-47.
  • Bhattarai, K. (2004). “Unemployment-Inflation Trade-offs in OECD Countries: Lessons from Panel Data and Theories of Unemployment”, (12) (PDF) Unemployment-inflation Trade-offs in OECD Countries: Lessons from Panel data and Theories of Unemployment (researchgate.net).
  • Çatık A. N., Martin, C. and Önder, A. Ö. (2008). "Relative Price Variability and the Philips Curve: Evidence from Turkey". Working Papers 0807.
  • Daly, M. C. and Hobijn, B. (2014). “Downward Nominal Wage Rigidities Bend the Phillips Curve”. Federal Reserve Bank of San Francisco Working Paper Series, 1-47.
  • Dereli, D. D. (2019). “The Relationship Between Inflation and Unemployment in Turkey: An ARDL Bounds Testing Approach”. Kırklareli University Journal of the Faculty of Economics and Administrative Sciences, 8 (2), 246-257.
  • De Veirman, E. (2007). “Which Nonlinearity in the Phillips Curve? The Absence of Accelerating Deflation in Japan”, https://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Discussion%20papers/2007/dp07-14.pdf.
  • Dritsaki, C. and Dritsaki, M. (2012). “Inflation, Unemployment and the NAIRU in Greece”. Procedia Economics and Finance, 1, 118-127.
  • Eita, J. H. and Ashipala, J. M. (2010). “The Determinants of Unemployment in Namibia”. International Journal of Business and Management, 5(10), 92 – 104.
  • Elliot, B. (2015). “The Relationship Between Inflation and Unemployment in Ghana: Analysis of the Philips Curve”. African Journal of Economic Review, 3(2), 117-124.
  • Erdil Şahin, B. (2019). “Analysis of The Relationship Between Inflation and Unemployment in Turkey Via Vector Error Correctıon Model”. Journal of Financial Solution, 29 (152), 63-75.
  • Furuoka, F. (2007). “Does the Phillips Curve Really Exist? New Empirical Evidence from Malaysia for the Period 1975-2004”. Economic Bulletin, 5 (16), 1-14.
  • Gaiotti, E. (2010). “Has Globalization Changed the Phillips Curve? Firm-Level Evidence on the Effect of Activity on Prices”, https://www.ijcb.org/journal/ijcb10q1a3.pdf.
  • Göçer, İ. (2016). “Phillips Curve Theory is Valid in Turkey? An Econometric Analysis with Structurel Break”. Journal of Aydın Faculty of Economics, 1 (1), 50-62.
  • Gül, E., Kamacı, A. and Konya, S. (2014). “The Causal Relationship Between Inflation and Unemployment: A Panel Cointegration and Causality Analysis”. In International Conference on Eurasian Economies (Vol. 1).
  • Haider, M. Z. and Dutta, C. B. (2012). “Inflation–Unemployment Trade-off: Evidence from Bangladesh Economy”. Asia-Pacific Journal of Management Research and Innovation, 8(3), 227-237.
  • Herman, E. (2010). “Inflation and Unemployment in the Romanian Economy”, http://www.economics-ejournal.org/economics/discussionpapers/2009-43.
  • Karacan, R. (2018). “Phillips Curve Approach to Causality Between Inflation and Unemployment in Turkey”. Social Mentality and Researcher Thinkers Journal, 4 (10), 242-249.
  • Kasseh, P. A. (2018). “The Relation Between Inflation and Unemployment in the Gambia: Analysis of the Philips Curve”. Journal of Global Economics, 6(02), 6-12.
  • Kichian, M. (2001). “On the Nature and the Stability of the Canadian Phillips Curve”. Bank of Canada Working Paper. (2001 – 4).
  • Kuştepeli, Y. (2005). “A Comprehensive Short-run Analysis of a (Possible) Turkish Phillips Curve”. Applied Economics, 37, 581-591.
  • Maden, S. I., Baykul, A. and Akgün, E. (2018). “Analysis of Relationship Between Inflation and Unemployment by Time Series After 1980 in Turkey”. The Journal of Kesit Academy, 13, 53-63.
  • Mangır, F. and Erdoğan, S. (2012). “The Relationship Between Inflation and Unemployment in Turkey (1990-2011)”. Finance, Politics and Economic Reviews, 49, 77-98.
  • Mangnejo, G. M., Mahar, S. W. and Ahmed, B. (2020). “Inflation and Unemployment in Pakistan: An Empirical Analysis”. Pakistan Social Sciences Review, 4(2), 306-318.
  • Nwala K. (2003). “Is There Still an Unemployment and Inflation Trade-off”. International Advances in Economic Research, 2003.
  • Ogbokor, A. C. (2005). “The Applicability of the Short-run Phillips Curve to Namibia”. Journal of Social Sciences, 1 (4): 243-245.
  • Orji, A., Anthony-Orji, O. I. and Okafor, J. C. (2015). “Inflation and Unemployment Nexus In Nigeria: Another Test of The Phillip’s Curve”, Asian Economic and Financial Review, 5(5), 766-778.
  • Ormerod, P., Rosewell, B. and Phelps P. (2009). “Inflation/Unemployment Regimes and the Instability of the Phillips Curve”. Economics, Discussion Paper,No.43, https://www.researchgate.net/publication/46457959_InflationUnemployment_Regimes_and_the_Instability_of_the_Phillips_Curve/link/0e60be81f0c493afa4b15544/download.
  • Önder, A. Ö. (2006). “The Stability of the Turkish Phillips Curve and Alternative Regime Shifting Models”. Ege University Working Papers in Economics 2006, Working Paper No: 06/02.
  • Özçelik, Ö. and Uslu, N. (2017). “Analysis of Relationship Among Economic Growth, Unemployment and Inflation by VAR Model: The Case of Turkey (2007 - 2014)”. Ekev Journal of Academy, 69, 31-51.
  • Özer, M. O. (2020). "Analysis of the Long-Term Relationship Between Inflation and Unemployment Rates in Turkey: Fourier Approach to Phillips Curve”. Pamukkale University Journal of Social Sciences Institute, 39, 179-192.
  • Öztürk, S. and Emek, M. L. (2016). “Phillips Curve Analysis for Turkey by April and October Datas Belong the Years Between 1997-2006”. Balkan Journal of Social Sciences, 5, 64-74.
  • Petek, A. and Aysu, Y. (2017). “Philips Curve: Turkey Case (1980-2015)”. Journal of Current Researches on Business and Economics, 7, 53-64.
  • Phillips, A.W. (1958). “The Relation Between Unemployment and The Rate of Change of Money Wage Rates in the United Kingdom: 1861-1957”. Economica, 25, 283-299.
  • Russell, B. and Banerjee, A. (2008). “The Long-Run Phillips Curve and NonStationary Inflation”. Journal of Macroeconomics, 30, 1792-1815.
  • Samanhyia, S. (2014). “The Expectations - Augmented Philips Curve Evidence from Ghana”. International Journal of Economics. Commerce and Management, II(11), 1-21.
  • Singh, B. K., Kanakaraj, A. and Sridevi, T. O. (2010). “Revisiting the Empirical Existence of the Phillips Curve for India”. MPRA Munich Personal RePEc Archive, MPRA Paper No. 31793.
  • Sköld, E. and Tesfay, K. (2020). “The Relationship Between Inflation and Unemployment in Sweden, https://www.diva-portal.org/smash/get/diva2:1438547/FULLTEXT01.pdf.
  • Tabar, Ç. and Çetin, I. K. (2016). “Phillips Curve Analysis in the Case of Turkey”. Journal of Life Economics, 3 (4): 79-100.
  • Tajra, H.F. (1999). “The Phillips Curve in Brazilian Economy after Real Plan”. The George Washington University, The Minerva Program, 8-45, http://www.gwu.edu/~ibi/minerva/Fall1999/Tajra.Haroldo.pdf.
  • Tobin, J. (1980). “Stabilization Policy Ten Years After”. Brookings Papers on Economic Activity, No: 1, 19-71.
  • Turner, P. and Benavides, G. (2001). “The Demand for Money and Inflation in Mexico 1980-1999: Implications for Stability and Real Seigniorage Revenues”. Applied Economics Letters, 8, 775-778.
  • Yılmaz, F., Şeker, O. and Pektaş, E. (2019). “Testing the Validity of the Phillips Curve for Turkey with Vector Autoregressive and Markov Switching Models on the Basis of Inflation and Unemployment”. International Conference on Eurasian Economies 2019.

Ayrıntılar

Birincil Dil İngilizce
Konular İktisat
Bölüm Makaleler
Yazarlar

Şaduman YILDIZ (Sorumlu Yazar)
BAYBURT ÜNİVERSİTESİ
0000-0002-9990-0628
Türkiye

Erken Görünüm Tarihi 21 Aralık 2021
Yayımlanma Tarihi 30 Aralık 2021
Başvuru Tarihi 17 Nisan 2021
Kabul Tarihi 6 Aralık 2021
Yayınlandığı Sayı Yıl 2021, Cilt 10, Sayı 4

Kaynak Göster

APA Yıldız, Ş. (2021). The Analysis of the Validity of the Phillips Curve in Turkey via the Fourier Cointegration and Causality Tests . İnsan ve Toplum Bilimleri Araştırmaları Dergisi , 10 (4) , 3173-3190 . DOI: 10.15869/itobiad.918514
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Turkey Journal of Theological Studies is under the İtobiad.