Applicability of the Phillips Curve in Romania, for the Age Group 15-19 Years

This paper aims to analyze the new approaches of the unemployment rate - inflation rate relationship and to test the applicability of the Phillips curve in Romania for the age group 15-19 years. The analyzed period is 1996-2012. It will calculate the absolute change in the unemployment, the unemployment rate for the age group 15-19 years and the rate of inflation indicators and it will trace the Phillips curve for the relationship between inflation rate and the two unemployment rates. It will also calculate the correlation coefficients between unemployment and inflation. During 1996 - 2012 period, after analyzing the data and calculating correlation coefficients, it is found that the Phillips curve applies for the age group 15-19 years, but not for the entire period, only for the subperiod 2008-2012.