Modelling Shifts in the Wage-Price and Unemployment-Inflation Relationships in Italy, Poland and the Uk
Economic Modelling, 2000, 17, 3, 387-413
MARCELLINO, Massimiliano, MIZON, Grayham E., Modelling Shifts in the Wage-Price and Unemployment-Inflation Relationships in Italy, Poland and the Uk, Economic Modelling, 2000, 17, 3, 387-413 - http://hdl.handle.net/1814/16781
Retrieved from Cadmus, EUI Research Repository
The relationship between wages, prices, productivity, inflation and unemployment in Italy, Poland, and the UK between the 1960s and the early 1990s is modelled as a cointegrated vector autoregression subject to regime shifts. For each of these economies there is clear evidence of a change in the underlying equilibria of this sector of the economy. Hypotheses concerning the similarity of the transition from a rigid to a flexible labour market are tested.
Cadmus permanent link: http://hdl.handle.net/1814/16781
Full-text via DOI: 10.1016/S0264-9993(99)00045-0
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