Developed Countries and Economically Developed Countries Essay examples

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The developed country can be classified also as the advanced country, more developed country (MDC), and more economically developed country (MEDC). Developed country means the country that sovereign state and has a highly growth of economics and modern technological infrastructure compare to the developing country and least developed country. There are several previous studies that have been done on the relationship between inflation rate and unemployment rate in developed country such as by Hogan (United State), Sack’l en (Sweden) and Andrei (Romania). They are done the same research with different method to get same objective. The most of the study is use a VECM method in their research. While, there is a few of the study was used a VAR…show more content…
The developed country can be classified also as the advanced country, more developed country (MDC), and more economically developed country (MEDC). Developed country means the country that sovereign state and has a highly growth of economics and modern technological infrastructure compare to the developing country and least developed country. There are several previous studies that have been done on the relationship between inflation rate and unemployment rate in developed country such as by Hogan (United State), Sack’l en (Sweden) and Andrei (Romania). They are done the same research with different method to get same objective. The most of the study is use a VECM method in their research. While, there is a few of the study was used a VAR method. 2.1.1 United States Related to the topic research which is relationship between inflation rate and unemployment rate, the developed country also involved in these two factors economics relationships. As we know United State is one of the most developed countries in the world because it has a highest and modern technological infrastructure and plays important role in world economics. United State is one of the Veto Power countries. For United State country, they are several research were conduct for the relationship between inflation rate and unemployment rate, Mankiw (2000), Sackl’ en (2006), and Berentsen (2011). All of these previous researches employed various approaches to achieve the same objective. Hogan (1998) said that
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