Osiewalski, Jacek; Welfe, Aleksander - In: Economic Change and Restructuring 30 (1997) 2, pp. 205-220
This paper proposes a two-equation price-wage model that enables to test whether the inflationary pressure on wage rate is only present when the rate of inflation is greater than some threshold value. Since the likelihood function for this model is very nonstandard, we develop a small-sample...
