Causality between Prices and Wages: VECM Analysis for EU-27
The literature on causality as well as the empirical evidence clearly shows that there are two opposing groups of economists, who support different hypotheses with respect to the flow of causality in the price-wage causal relationship. The first group argues that causality runs from wages to prices,...
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| Format: | Article |
| Language: | English |
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Editura ASE Bucuresti
2010-09-01
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| Series: | Romanian Economic Journal |
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| Online Access: | http://www.rejournal.eu/No37/tabid/211/Default.aspx |