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DIE ≪PHILLIPS‐KURVE≫ IN DEUTS CHLAND *
Author(s) -
Hoffmann Walther G.
Publication year - 1969
Publication title -
kyklos
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 58
eISSN - 1467-6435
pISSN - 0023-5962
DOI - 10.1111/j.1467-6435.1969.tb02529.x
Subject(s) - unemployment , correlation coefficient , economics , value (mathematics) , period (music) , negative correlation , regression function , positive correlation , econometrics , mathematics , statistics , regression analysis , philosophy , macroeconomics , medicine , aesthetics
SUMMARY The relation between unemployment and nominal wages for the period, 1887‐1913, is characterized by a regression function in which y = 3.5 ‐ 0.5 x . The coefficient of correlation is ‐0.63, the x ‐axis bisected at a value of 7 per cent—the latter a value very close to results obtained for England and the Nether‐lands in the postwar years. The corresponding coefficient for the period, 1925‐38 is ‐0.75, the x‐axis is crossed at a value of 15.8 per cent. The last period (1949‐66) yields no significant correlation (‐0.17). The relation price change—unemployment yields only for the period, 1925‐38, a possibly meaningful correlation of ‐0.64, the other coefficients arc substantially lower. Thus one may regard the relationship price change—unemployment for Germany as non‐significant. Similarly, the relationship real wages—unemployment yields only for the period, 1925‐38, a meaningful correlation: ‐0.79 with the x ‐axis being crossed at a value of 20.5 per cent. The other coefficients are much lower.