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

Modelling shifts in the wage-price and unemployment-inflation relationships in Italy, Poland, and the UK
Modelling shifts in the wage-price and unemployment-inflation relationships in Italy, Poland, and the UK
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.
9917
University of Southampton
Marcellino, M.
d6e08f44-4d93-4dd5-9dff-06a0523b1628
Mizon, G.E.
2b8353b4-0af4-48db-b552-6867dc1f4583
Marcellino, M.
d6e08f44-4d93-4dd5-9dff-06a0523b1628
Mizon, G.E.
2b8353b4-0af4-48db-b552-6867dc1f4583

Marcellino, M. and Mizon, G.E. (1999) Modelling shifts in the wage-price and unemployment-inflation relationships in Italy, Poland, and the UK (Discussion Papers in Economics and Econometrics, 9917) Southampton, UK. University of Southampton (doi:10.1016/S0264-9993(99)00045-0).

Record type: Monograph (Working Paper)

Abstract

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.

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Published date: 1999
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Organisations: Economics

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Local EPrints ID: 33152
URI: http://eprints.soton.ac.uk/id/eprint/33152
DOI: doi:10.1016/S0264-9993(99)00045-0
PURE UUID: e05b82a1-9d01-4b3c-b34e-f83f768554ec

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Date deposited: 24 May 2007
Last modified: 15 Mar 2024 07:43

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Contributors

Author: M. Marcellino
Author: G.E. Mizon

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