TY  - JOUR
TT  - SYSTEM DYNAMICS MODEL OF THE ORIGINAL PHILLIPS CURVE
AU  - Sansarcı, Engin
AU  - Aşıcı, Ahmet Atıl
AU  - Saysel, Ali Kerem
PY  - 2016
DA  - July
JF  - Düzce Üniversitesi Sosyal Bilimler Dergisi
JO  - DÜSOBED
PB  - Duzce University
WT  - DergiPark
SN  - 2146-5975
SP  - 25
EP  - 44
VL  - 4
IS  - 2
KW  - Sistem Dinamiği
KW  - Dengesizlik Ekonomisi
KW  - Phillips Eğrisi
N2  - An empirical inverse relation is argued between wage inflation and unemployment rate by Phillips(1958). This relation is later called Phillips Curve and interpreted as a trade-off between inflation and unemployment. In this study, we argue that the trade-off interpretation is incorrect and there is a disequilibrium explanation for the empirical inverse relation. We propose a system dynamics model which explains the phenomena and discuss the simulation results
UR  - https://dergipark.org.tr/en/pub/dusbed/issue//241810
L1  - https://dergipark.org.tr/en/download/article-file/210234
ER  -