Chou, Y.K. - Department of Economics, Faculty of Business and Economics - 2001
In this paper, we use panel data from 1971 to 1985 to test the hypothesis that differences in monetary and wage institutions can explain a significant fraction of the variations in the macroeconomic performance of 10 OECD countries following the OPEC shocks of 1973-74 and 1979-80. After...