Inflation in Central and East European countries varied considerably over the transition phase, and econometric relationships between prices, money, wages and exchange rates are said to have been unstable during this period. In order to shed some light on the issue, this paper analyses some...

In this paper we analyse the wage price relationship of an economy in transition characterized by important structural changes. It is known (see Perron 1989) that structural breaks in stationary time series can induce apparent unit roots. The stationarity analysis of the series employed in the...

The aim of this paper is to model the impact of exchange rate both inlation and unemployment variables in economics which are characterized by important structural changes, i.e. A transition phase moving from centralised economies towards market economies. This phenomeno, which is common to east...