Mallik, Girijasankar; Chowdhury, Anis - In: Journal of Economic Studies 29 (2002) September, pp. 240-250
This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand …, Spain, Sweden and the UK which have adopted a “formal” policy of low or zero inflation target. Using cointegration analysis … and a vector error correction model (VECM)), we find that the long-run relationship between inflation and real income is …