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| Author: | Golinelli, R. Orsi, R. |
| Title: | Testing for structural change in cointegrated relationships: analysis of price-wages models for Poland and Hungary |
| Journal: | Economics of Planning
2000 : VOL. 33:1-2, p. 19-51 |
| Index terms: | ECONOMIC PLANNING POLAND HUNGARY |
| Language: | eng |
| Abstract: | In previous studies concerning short- and long-run relationships for price-wage models, the cointegration analysis has been developed assuming the existence of a unique cointegration parametrisation. These empirical results reveal the presence of significant relationships, both in the short and in the long run, among prices, wages, labour productivity and exchange rate. In this paper the authors intend to develop the possibility of a more general type of cointegration, allowing for a change at an unknown time period in the sample. |
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