Warne, Anders; Hansen, Henrik - In: Empirical Economics 26 (2001) 3, pp. 461-486
We study the Danish unemployment experience 1905-92 using a common trends model with cointegration constraints. To … justify the identifying assumptions about the cointegration vectors and the common trends we present a simple macroeconomic … product and real consumer wages. The empirical results give support for three cointegration relations and two common trends …