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Modelling Shifts in the Wage- Price and Inflation-Unemployment Relationships in Italy, Poland, and the UK

Modelling Shifts in the Wage- Price and Inflation-Unemployment Relationships in Italy, Poland, and the UK
Modelling Shifts in the Wage- Price and Inflation-Unemployment Relationships in Italy, Poland, and the UK
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.
0264-9993
387-413
Marcellino, Massimiliano
7eabfbac-19e9-47e0-9db5-e29cb4b134ba
Mizon, Grayham E.
2b8353b4-0af4-48db-b552-6867dc1f4583
Marcellino, Massimiliano
7eabfbac-19e9-47e0-9db5-e29cb4b134ba
Mizon, Grayham E.
2b8353b4-0af4-48db-b552-6867dc1f4583

Marcellino, Massimiliano and Mizon, Grayham E. (2000) Modelling Shifts in the Wage- Price and Inflation-Unemployment Relationships in Italy, Poland, and the UK. Economic Modelling, 17 (3), 387-413. (doi:10.1016/S0264-9993(99)00045-0).

Record type: Article

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.

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Published date: 2000
Organisations: Economics

Identifiers

Local EPrints ID: 32878
URI: http://eprints.soton.ac.uk/id/eprint/32878
DOI: doi:10.1016/S0264-9993(99)00045-0
ISSN: 0264-9993
PURE UUID: 95115e7e-66c6-4c30-a105-3bffcef423d2

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Date deposited: 16 May 2006
Last modified: 15 Mar 2024 07:40

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Author: Massimiliano Marcellino
Author: Grayham E. Mizon

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