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Long-run properties of some Danish macroeconometric models: an analytical approach

Author

Listed:
  • Harck, Søren

    (Department of Economics, Aarhus School of Business)

Abstract

This paper provides an analytical treatment of various long-run aspects of the MONA model as well as the SMEC model of the Danish economy. More specifically, the analysis lays bare the long-run and steady-state nexus between unemployment and, respectively, inflation and the wage share implied by the wage and price dynamics of these models

Suggested Citation

  • Harck, Søren, 2007. "Long-run properties of some Danish macroeconometric models: an analytical approach," Working Papers 07-9, University of Aarhus, Aarhus School of Business, Department of Economics.
    • Handle: RePEc:hhs:aareco:2007_009
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    File URL: http://www.hha.dk/nat/wper/07-9_soh.pdf
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    More about this item

    Keywords

    MONA; SMEC; Employment; Wage share; Inflation; Phillips curve; Error correction;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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