Arbeitspapier
Wage Formation in a Cointegrated VAR Model: A Demand and Supply Approach.
Usually cointegrated VAR models of wage formation are analysed in a wage-price setup. However, theoretical wage bargaining models provide the background for a wage-employment setup. The two relations of interest are the labour demand equation from the profit maximizing firms and the (bargained) wage equation from maximizing the Nash product of the wage bargaining process. From the underlying economic model we derive explicit parameter restrictions which are analysed using a multivariate cointegration approach, using quarterly data from Denmark. These restrictions are not rejected and the theoretical model with maximizing agents can be said to give a good description of wage formation in Denmark.
- Sprache
-
Englisch
- Erschienen in
-
Series: EPRU Working Paper Series ; No. 1997-03
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Pétursson, Thórarinn G.
Sløk, Torsten
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Copenhagen, Economic Policy Research Unit (EPRU)
- (wo)
-
Copenhagen
- (wann)
-
1997
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Pétursson, Thórarinn G.
- Sløk, Torsten
- University of Copenhagen, Economic Policy Research Unit (EPRU)
Entstanden
- 1997
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