Rethinking the "Phillips Curve" in Nigeria: Assessing the Unemployment-Inflation Nexus in a Non-Linear Framework

Authors

Oba Efayema Obukohwo, University of Nigeria, Nsukka
Hilda Enoh Olele, Delta State University, Abraka, Delta State

Keywords

Hypothesis, Phillips Curve, Inflation, NARDL, Unemployment

Abstract

The need to boost economic growth through policies that will simultaneously enhance employment and price stability cannot be overemphasized for a developing economy like Nigeria. This study thus seeks to ascertain the nexus between unemployment and inflation in Nigeria utilizing unemployment, and other control variables between 1980 and 2020 within a nonlinear framework, the study invalidated the inverse relationship. The study thus proposed that government should formulate and implement policies that will stimulate growth through an unemployment-inflation decelerating trajectory.

Author Bio

Oba Efayema Obukohwo and Hilda Enoh Olele are lecturers in the Department of Economics, University of Nigeria, Nsukka, and Department of Economics, Delta State University, Abraka, Delta State, respectively.

Publication Title

Bullion

Issue

1

Volume

47

First Page

65

Last Page

74

Recommended Citation

Obukohwo, Oba Efayema and Olele, Hilda Enoh (2023) "Rethinking the "Phillips Curve" in Nigeria: Assessing the Unemployment-Inflation Nexus in a Non-Linear Framework," Bullion: Vol. 47: No. 1, Article 6.
Available at: https://dc.cbn.gov.ng/bullion/vol47/iss1/6