A modified model of the relationship between inflation and unemployment using delay differential equations
Steven Sergio (a*), Jalina Widjaja (a)

a) Faculty of Mathematics and Natural Sciences, Institut Teknologi Bandung
Jalan Ganesa 10, Bandung 40132, Indonesia
*20822010[at]mahasiswa.itb.ac.id

Abstract

In this paper, a model of the relationship between inflation and unemployment is discussed. The model is based on Philips curve which is modified by involving delay differential equations. Using the data of inflation and unemployment in Indonesia from 2022 to 2024, we show that the model represents a more accurate relationship between inflation and unemployment.

Keywords: inflation- unemployment- Philips curve- delay

Topic: Others