Zależności między inflacją a bezrobociem w największych gospodarkach świata
The Relationships Between Inflation and Unemployment in Major Economies of the World

Summary/Abstract: The article discusses the relationships between inflation and unemployment in major market economies (the United States, Japan, Germany, France, and Great Britain). The study covers the years 1965–2013. The analysis uses graphs, correlation coefficients and indicators of the sensitivity of inflation to change in unemployment and vice versa (i.e. sacrifice ratio). Based on the analysis, two main conclusions can be drawn. Firstly, there were no strong negative relationships between unemployment and inflation in any of the studied countries, apart from Japan. Secondly, a rise in unemployment in all the analyzed countries in the last half-century may indicate excessively strict macroeconomic policies. The analysis shows that it concerned mainly Germany, Japan and France.

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