| Author: | Kaskarelis, I. A. |
| Title: | Output fluctuations with bargained wages and a competitive tradeable goods sector in the economy : empirical estimates for the group of five, 1970 1 - 1985 4. |
| Journal: | Weltwirtschaftliches Archiv
1991 : VOL. 127:1, p. 42-72 |
| Index terms: | CAPACITY UTILIZATION BUSINESS CYCLES OUTPUT |
| Language: | eng |
| Abstract: | A two-sector neoclassical, supply-side model for the US, Japan and Europe is put forward, estimated and tested using quarterly data. Competitiveness, the relative price of oil and expenditure are presented as the independent contributors of GDP fluctuation and a distributed lag polynomial is inserted to catch the sluggishness of output adjustment. |
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