This study aims to explore the validity of Phillips curve for eight (8) countries from the Middle East and North Africa (MENA), namely Algeria, Egypt, Jordan, Kuwait, Malta, Morocco, Saudi Arabia, and Tunisia over the period of 1991–2019. The panel autoregressive distributed lag/pooled mean group (ARDL/PMG) estimation is employed in the study because of the nature of data. The results of ARDL/PMG reveal that there is no trade-off between inflation and unemployment rates in the panel of eight MENA countries in the long run, while there is a negative but insignificant relationship between these two variables in the short run. In addition, the trade-off between inflation and unemployment for each of the panel’s countries has also been investigated. The empirical results indicate that there is no trade-off in the short run as the estimated coefficients found are statistically insignificant. Hence, it is concluded that there is no empirical evidence of the trade-off between inflation and unemployment rates in MENA countries.

中文翻译：

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菲利普斯曲线存在吗？来自中东和北非国家的证据

本研究旨在探索菲利普斯曲线在 1991 年期间对中东和北非 (MENA) 八 (8) 个国家（即阿尔及利亚、埃及、约旦、科威特、马耳他、摩洛哥、沙特阿拉伯和突尼斯）的有效性–2019。由于数据的性质，研究中采用了面板自回归分布滞后/合并平均组 (ARDL/PMG) 估计。ARDL/PMG 的结果表明，从长期来看，8 个 MENA 国家的面板中的通货膨胀率和失业率之间没有权衡取舍，而在短期内这两个变量之间存在负相关但不显着的关系。此外，还研究了专家组每个国家的通货膨胀和失业之间的权衡。实证结果表明，短期内没有权衡取舍，因为发现的估计系数在统计上不显着。因此，得出的结论是，没有经验证据表明中东和北非国家的通货膨胀率和失业率之间存在权衡关系。