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Modelling shifts in the wage-price and unemployment-inflation relationships in Italy, Poland, and the UK Author info | Abstract | Publisher info | Download info | Related research | Statistics Massimiliano Marcellino
Grayham E. Mizon
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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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Paper provided by IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University in its series Working Papers with number
145.
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Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Ian Babetskii, 2007.
"Aggregate Wage Flexibility in Selected New EU Member States ,"
CESifo Working Paper Series
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Other versions: Jesus Otero & Manuel Ramirez, 2002.
"On the determinants of the inflation rate in Colombia: a disequilibrium market approach ,"
BORRADORES DE INVESTIGACIÃN
003296, UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA.
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Ana María Iregui & Jesús Otero, 2003.
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"Testing for the Cointegrating Rank of a VAR Process with Level Shift at Unknown Time ,"
Sonderforschungsbereich 373
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"Determinants of Inflation in Poland: A Structural Cointegration Approach ,"
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16/2001, Bank of Finland, Institute for Economies in Transition.
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Rita Duarte & Carlos Robalo Marques, 2009.
"The dynamic effects of shocks to wages and prices in the United States and the Euro Area ,"
Working Paper Series
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Hans-Martin Krolzig & Massimiliano Marcellino & Grayham E. Mizon, .
"A Markov-Switching Vector Equilibrium Correction Model of the UK Labour Market ,"
Working Papers
185, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
[Downloadable!]
Other versions:
Krolzig, H-M. & Marcellino, M. & Mizon, G.E., 2001.
"A Markov-Switching Vector Equilibrium Correction Model of the UK Labour Market ,"
Discussion Paper Series In Economics And Econometrics
0105, Economics Division, School of Social Sciences, University of Southampton.
Massimiliano Marcellino & Grayham E. Mizon & Hans-Martin Krolzig, 2002.
"A Markov-switching vector equilibrium correction model of the UK labour market ,"
Empirical Economics ,
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[Downloadable!] (restricted)
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