The relationship between wages, prices, productivity, inflation, and unemployment in Italy, Poland, and the UK between the 1960’s and the early 1990’s 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.

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

MARCELLINO, MASSIMILIANO;
2000

Abstract

The relationship between wages, prices, productivity, inflation, and unemployment in Italy, Poland, and the UK between the 1960’s and the early 1990’s 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.
2000
Marcellino, Massimiliano; G., Mizon
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/3714678
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