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Economic theory and econometric dynamics in modelling wages and prices in the United Kingdom

Fisher, Paul G.; BÅrdsen, Gunnar - In: Empirical Economics 24 (1999) 3, pp. 483-507

We show that a "competing claims" model of imperfect competition can explain the movements of wages and prices in the United Kingdom, using quarterly data covering 1976-93. We argue that careful attention both to economic theory and to the interaction between dynamics and identification is...

Persistent link: https://www.econbiz.de/10005382262

Who is ruling Europe? Empirical evidence on the German Dominance Hypothesis

Camarero, Mariam; Ordóñez, Javier - In: Empirical Economics 26 (2001) 4, pp. 623-650

The aim of this paper is to analyze the hypothesis of German dominance in the European Monetary System (EMS). For this purpose, we use monthly interest rates for nine European countries from January 1979 to the second half of 1997. In particular, we test the stability of the implied long-run...

Persistent link: https://www.econbiz.de/10005382352

Stability of money demand in Switzerland: A comparison of the M2 and M3 cases

Peytrignet, Michel; Stahel, Christof - In: Empirical Economics 23 (1998) 3, pp. 437-454

Long-run parameters of money demand functions for Switzerland's M2 and M3 aggregate are estimated and their stability investigated. For both aggregates a single stable cointegrating vector is found. Around these long-run relationships a single-equation model for m2 and a single-equation model...

Persistent link: https://www.econbiz.de/10005382370

The demand for broad money in Norway, 1969-1993

Eitrheim, ûyvind - In: Empirical Economics 23 (1998) 3, pp. 339-354

Cointegration analysis is applied to investigate the long run relationships between money, prices, and wages in Norway …

Persistent link: https://www.econbiz.de/10005382373

Do reductions in black market exchange rate premia cause inflation?

Larue, Bruno; Gervais, Jean-Philippe - In: Empirical Economics 26 (2001) 3, pp. 525-551

Unification of the black and official exchange rates and increasing the rate of crawl of the official rate are the competing prescriptions to reduce inefficiencies caused by the black market premia. Pinto (1991) showed that the removal of implicit export taxes could force governments to raise...

Persistent link: https://www.econbiz.de/10005382443

A monetary analysis of the Drachma/ECU exchange rate determination, 1980-1991

Zis, George; Papadopoulos, Athanasios P. - In: Empirical Economics 25 (2000) 4, pp. 653-663

cointegration, impulse response and variance decomposition analysis. The empirical results reported confirm recent findings that the …

Persistent link: https://www.econbiz.de/10005612891

Money demand, the Cagan model, testing rational expectations vs adaptive expectations: The case of Turkey

Metin, Kivilcim; Muslu, Ilker - In: Empirical Economics 24 (1999) 3, pp. 415-426

This paper estimates the Cagan type demand for money function for Turkish economy during the period 1986:1-1995:3 and tests whether Cagan's specification fits the Turkish data using an econometric technique assuming that forecasting errors are stationary. This paper also tests the hypothesis...

Persistent link: https://www.econbiz.de/10005612895

The cause of Danish unemployment: Demand or supply shocks?

Warne, Anders; Hansen, Henrik - In: Empirical Economics 26 (2001) 3, pp. 461-486

We study the Danish unemployment experience 1905-92 using a common trends model with cointegration constraints. To … justify the identifying assumptions about the cointegration vectors and the common trends we present a simple macroeconomic … product and real consumer wages. The empirical results give support for three cointegration relations and two common trends …

Persistent link: https://www.econbiz.de/10005612925

Changing monetary transmission mechanisms within the EU

Juselius, Katarina - In: Empirical Economics 23 (1998) 3, pp. 455-481

The paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the "second ERM" in March 1983. The empirical model investigates the determination of money, income, prices, and interest rates in Germany, Denmark, and Italy based on the cointegrated VAR...

Persistent link: https://www.econbiz.de/10005758307

A Markov-switching vector equilibrium correction model of the UK labour market

Marcellino, Massimiliano; Mizon, Grayham E.; Krolzig, … - In: Empirical Economics 27 (2002) 2, pp. 233-254

There is a wide literature on the dynamic adjustment of employment and its relationship with the business cycle. In this paper we present a statistical model that offers a congruent representation of part of the UK labour market since the mid 1960s. We use a cointegrated vector autoregressive...

Persistent link: https://www.econbiz.de/10005758339

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