Small system modelling of real wages, inflation, unemployment and output per capita in Italy 1970-1994


Marcellino, M. and Mizon, G.E. (2001) Small system modelling of real wages, inflation, unemployment and output per capita in Italy 1970-1994 , Southampton, GB University of Southampton (Discussion Papers in Economics and Econometrics, 106).

Download

[img] PDF 0106.pdf - Other
Download (298kB)

Description/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 associated with the substantial changes in many sectors of the Italian economy after 1979. Alternative ways to model structural change in the Italian labour market are considered. In adopting a split sample approach the results favour an hysteresis interpretation of unemployment.

Item Type: Monograph (Discussion Paper)
Related URLs:
Subjects:

ePrint ID: 167735
Date :
Date Event
January 2001Published
Date Deposited: 17 Nov 2010 11:39
Last Modified: 18 Apr 2017 03:34
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/167735

Actions (login required)

View Item View Item