2411-3336 2541-9404 Записки Горного института Journal of Mining Institute Санкт-Петербургский горный университет императрицы Екатерины ΙΙ Empress Catherine II Saint Petersburg Mining University pmi-7745 https://pmi.spmi.ru/pmi/article/view/7745 Экономика и менеджмент Economics and management Real approach to Phillips’ curve Real approach to Phillips’ curve Balcar Jiri Balcar Jiri Balcar Jiri pmi@spmi.ru VSB – Technical University of Ostrava (Чехия) VŠB - Технический университет г. Острава (Czechia) 11 04 2007 2007 170 2 177 183 24 08 2006 28 10 2006 11 04 2007 © 2007 Jiri Balcar © 2007 Jiri Balcar 2007 Jiri Balcar Jiri Balcar Эта статья доступна по лицензии Creative Commons Attribution 4.0 International (CC BY 4.0) This article is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0) https://pmi.spmi.ru/pmi/article/view/7745

Since 1958, the year of Phillips’ paper «The Relation Between Unemployment and the Rate of Change In Money Wages in the United Kingdom, 1861-1957» publishing, a lot of modifications of the original Phillips’ curve have been made, whereas many of them have nearly nothing to do with the relationship described by original Phillips’ curve and they are rather inflation models or models of dynamic supply. It is the case of author’s «real» version of Phillips’ curve, which is derived in this paper, as well. Although «real» Phillips’ curve results from Phillips’ curve theory it describes a relationship between the labour productivity growth and the unemployment. The paper does not contain only the derivation of «real» Phillips’ curve, but also its empirical verification on the data bases of three developed countries, i.e. the USA, the United Kingdom and Denmark.

Since 1958, the year of Phillips’ paper «The Relation Between Unemployment and the Rate of Change In Money Wages in the United Kingdom, 1861-1957» publishing, a lot of modifications of the original Phillips’ curve have been made, whereas many of them have nearly nothing to do with the relationship described by original Phillips’ curve and they are rather inflation models or models of dynamic supply. It is the case of author’s «real» version of Phillips’ curve, which is derived in this paper, as well. Although «real» Phillips’ curve results from Phillips’ curve theory it describes a relationship between the labour productivity growth and the unemployment. The paper does not contain only the derivation of «real» Phillips’ curve, but also its empirical verification on the data bases of three developed countries, i.e. the USA, the United Kingdom and Denmark.

 Ameco, the annual macroeconomic database [database online]. [Cited on 18.2. 2002] <http://europa.eu.int/ comm/economy_finance/indicators/annual_macro_economic_ database/ameco_en.htm> Frait, J. Nova teorie a empirie rustu. Ostrava: VSB-TU Ostrava. Faculty of economics, 1998. 104 p. Inaugural dissertation. Frait, J., Zednicek, R. Makroekonomie. 1. ed. Ostrava: VSB – TUO, 1999. 179 p. ISBN 80-7078-296-X. Kotlan, I. Phillipsova krivka – mytus nebo realita? Ekonomicka revue, 2002, vol. 5, no. 2, p. 39-49. Phillips, A.W.: The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957. Economica, November 1958, p. 283-293. Samuelson, P.A. a Nordhaus, W.D. Ekonomie. Translation by M. Mejstrik et al. 1. ed. Prague: Svoboda, 1991. 1011 p. ISBN 80-205-0192-4. Studenmund, A.H. Using Econometrics: A Practical Guide. 4. ed. Boston: Addison Wesley Longman, 2001. 639 p. ISBN 0-321-06481-X.