Kadeřábek, Petr - In: Politická ekonomie 2007 (2007) 2, pp. 226-244
retail with distributors' supply and consumers' demand. The wholesale market determines the producer price index (PPI …), production and indirectly also employment. In the retail market the consumer price index (CPI) is formed. We specify a simple … dynamic model with two state variables: CPI and PPI. Real variables - production and employment - are fully determined by CPI …