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Inflation And Unemployment In The Romanian Economy

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Executive Summary

The current economic theory and practice highlights the fact that between inflation and unemployment, two macroeconomic issues which affect the lives of millions of individuals, directly and indirectly, there is no simple correlation. Taking into consideration these aspects, the authors aim to present a theoretical and empirical view on the relationship between inflation and unemployment in this paper. Also, the intention is to analyze if in Romania, during 1990 and 2009, there is a Phillips type relation between the inflation rate and the unemployment rate. The results of this research show that, in Romania, in the long run (20 years) one cannot identify a stable, statistically significant relationship between inflation and unemployment.

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