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unemployment, GDP, and inflation. Identification is achieved through the use of a standard version of Okun's law and a Phillips …
Persistent link: https://www.econbiz.de/10005382390
piecewise linear model with a higher inflation-unemployment tradeoff for the regime of low unemployment rates fits the data very …
Persistent link: https://www.econbiz.de/10005382354
The cyclical behaviour of prices in the U.K. is investigated using a sample of annual observations covering the period 1886-1993. A structural time series model relating consumer prices to output is estimated over four sub-periods. The results indicate that prices were procyclical in the...
Persistent link: https://www.econbiz.de/10005382219
Persistent link: https://www.econbiz.de/10005382302
Persistent link: https://www.econbiz.de/10005061348