Alogoskoufis, George; Martin, Christopher - C.E.P.R. Discussion Papers - 1990
the behaviour of relative commodity prices. The explanation is based on the timing and the mix of monetary and fiscal …. We find that a small North-South macro model which allows for price sluggishness in manufactures and flexible commodity … prices can explain the most important stylized facts about OECD unemployment and Europe's relative performance, as well as …