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comparisons. This paper uses the AD/AS–IS/LM apparatus to analyse the simulation properties of the RWI (Rheinisch …
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This paper analyses the NAIRU making use of a cointegrated VAR and of Italian labour market data. We show that a cointegrated VAR represents a statistically adequate (using Aris Spanos's terminology) approach to the estimation of the NAIRU. This is an effective way to overcome several problems...
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