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Henry, O.T.; Olekalns, N. - Department of Economics, Faculty of Business and Economics - 1999

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...

Persistent link: https://www.econbiz.de/10005574863

The Effect of Collective Bargaining and Central Bank Independence on Inflation and Unemployment: Evidence From the OECD.

Chou, Y.K. - Department of Economics, Faculty of Business and Economics - 2000

monetary and labour market institutions explain a significant portion of the surprisingly diverse inflation and unemployment … wage bargaining. We observe that inflation has a hump-shaped relationship with central bank independence and union density … smaller deviations of actual inflation rates from predicted rates in the aftermath of the 1973-74 OPEC price shock. …

Persistent link: https://www.econbiz.de/10005587691