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Persistent link: https://www.econbiz.de/10011437723
), 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 … shocks to the PPI inflation, production and employment equations. In the second part we implement the model on monthly data …
Persistent link: https://www.econbiz.de/10005036648