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A Comment on

Author

Listed:
  • Henry, O.T.
  • Olekalns, N.

Abstract

Research by Ghali (1999) tested for the existence of causality between wages and prices in United States' aggregate data using a multivariate cointegration framework. We show that Ghali's model is misspecified and that the correct specification leads to a different interpretation of the long-run dynamic relation between wages and prices.

Suggested Citation

  • Henry, O.T. & Olekalns, N., 1999. "A Comment on," Department of Economics - Working Papers Series 719, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:719
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    File URL: http://www.economics.unimelb.edu.au/research/1997-1999.html
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    Cited by:

    1. Theodore M. Crone, 1998. "House prices and the quality of public schools: what are we buying?," Business Review, Federal Reserve Bank of Philadelphia, issue Sep, pages 3-14.
    2. Göbel, Jürgen, 2009. "Local policy, income, and housing prices," MPRA Paper 14053, University Library of Munich, Germany.

    More about this item

    Keywords

    INFLATION ; WAGES ; ECONOMETRICS;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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