, inflation, and bond spread. We empirically identify a time-varying linkage between economic and financial variables which are … effects of financial shocks on output and inflation during crisis and non-crisis periods …

of Pakistan while inflation, interest and unemployment rates are three major indicators for destabilization. Purpose of … structure. Johansen's Cointegration test and Vector Error Correction Model (VECM) have been employed to find out the long run … been estimated. The results of the study indicate that inflation, interest and unemployment rates are cointegrated. It is …

leader. We estimate a model of wage formation in manufacturing and in two other sectors. Deciding cointegration rank is an … cointegration analysis provides evidence that collective wage negotiations in manufacturing have defined wage norms for the rest of …

five different country pairs in the post-Bretton-Woods era. We find evidence for the symmetry of the cointegration space …, which is of practical importance as it allows for the identification of the cointegration vectors in much smaller systems …

different conclusion is reached when we test whether the NPC encompasses an existing model of inflation which is without feed …-forward terms, but which allows for other adjustment factors than the NPC. We find that the NPC?s expected rate of future inflation … to correlation with the equilibrium correction terms that are implied by the existing inflation model. Our results are in …