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Modelling shifts in the wage–price and unemployment–inflation relationships in Italy, Poland and the UK

✍ Scribed by Massimiliano Marcellino; Grayham E Mizon


Book ID
117434728
Publisher
Elsevier Science
Year
2000
Tongue
English
Weight
390 KB
Volume
17
Category
Article
ISSN
0264-9993

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Small-system modelling of real wages, in
✍ Massimiliano Marcellino; Grayham E. Mizon 📂 Article 📅 2001 🏛 John Wiley and Sons 🌐 English ⚖ 122 KB

## Abstract The relationships between real wages, output per capita, inflation and unemployment in Italy between 1970 and 1994 are modelled using a cointegrated vector autoregression. There is evidence of a change in the underlying equilibria and in the dynamic evolution of the variables, probably