The price-wage mechanism in Poland. An endogenous switching model

被引：2
|
作者：
Osiewalski, J
Welfe, A
机构：
[1] Acad Econ, Dept Econometr, PL-31510 Krakow, Poland
[2] Univ Lodz, Dept Forecasts & Simulat Anal, Inst Econometr & Stat, PL-90214 Lodz, Poland
来源：
ECONOMICS OF PLANNING | 1997年 / 30卷 / 2-3期
关键词：
D O I：
10.1023/A:1003015909891
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper proposes a two-equation price-wage model that enables to test whether the inflationary pressure on wage rate is only present when the rate of inflation is greater than some threshold value. Since the likelihood function for this model is very nonstandard, we develop a small-sample Bayesian approach to estimate its parameters. Our empirical results for Poland, 1962-1993, give support to the hypothesis of the price-wage spiral with a positive threshold value of inflation.
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页码：205 / 220
页数：16
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