A Comment on

Ólan Henry and Nilss Olekalns ()

No 719, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: Research by Ghali (1999) tested for the existence of causality between wages and prices in United States' aggregate data using a multivariate cointegration framework. We show that Ghali's model is misspecified and that the correct specification leads to a different interpretation of the long-run dynamic relation between wages and prices.

Keywords: INFLATION; WAGES; ECONOMETRICS (search for similar items in EconPapers)
JEL-codes: C00 E31 J31 (search for similar items in EconPapers)
Pages: 17 pages
Date: 1999
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Citations: View citations in EconPapers (2)

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