From Phillips curve to wage curve

Article Abstract:

An analysis on the empirical relevance of the Phillips curve effect in the study of Netherland's wage equation is presented. The study reveals that wage formation is best understood by the use of the wagecurve, in which the wage level equation is negatively related to the unemployment rate. The study further implies that social economic policies willhave a permanent effect on the unemployment rate, which shall remain in the long run due to a 'compensating effect' of the Phillips curve.

Models, Evaluation, Inflation (Finance), Wage price policy, Inflation (Economics), Wage-price policy, Phillips curve

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Countries' creditworthiness: an indicator from a probit analysis

Article Abstract:

An empirical analysis on the creditworthiness of 32 developing countries using the 1983-1993 period is discussed. The growth-cum-debt theory, which determines debt-servicing problems, was used to see the relationship of the country's creditworthiness to its economic growth. A country risk indicator, which refers to the possibility that a country cannot meet its debt-service obligations due to political, social, and economic factors, was presented basing on a probit model.

Public Debt, Financial Forecasting, Developing countries, Business forecasting, Political risk

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Financing government spending in the Netherlands: an analysis from Ricardianperspective

Article Abstract:

Government spending in the Netherlands was analyzed to determine the validity of the Ricardian theorem of equivalence. The results showed that the theorem, which holds that tax cuts do not directly influence economic development, was invalid because consumer behavior tended to be influenced by awareness of the fact that tax cuts would gradually increase the budget deficit. Consequently, the Ricardian theorem of equivalence has to be rejected.

Beliefs, opinions and attitudes, Government spending policy, Ricardo, David, Keynesian economics

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