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  • 1
    Electronic Resource
    Electronic Resource
    Cointegration and common trends on the West German labour market (2000)
    Springer
    Empirical economics 25 (2000), S. 475-493 
    Details
    ISSN: 1435-8921
    Keywords: Key words: cointegration ; common trends ; structural shocks ; unemployment ; JEL classifications: E24
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. In this paper we analyze the West German labour market by means of a cointegrated structural VAR model. We find sensible stable long-run relationships that are interpreted as a labour demand, a wage setting and a goods market equilibrium. In order to study the dynamic behaviour of the model we identify two common trends that push unemployment. We find that goods market shocks have only transitory impacts on unemployment. In the long run, it is almost equally determined by technology and labour supply factors. However, transitory shocks have major importance in the shorter run since adjustment processes are rather sluggish.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s001810000028
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    Money and inflation in Germany: A cointegration analysis (1996)
    Springer
    Empirical economics 21 (1996), S. 601-616 
    Details
    ISSN: 1435-8921
    Keywords: Money ; Inflation ; Causality ; Cointegration ; C32 ; E31 ; E52
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper analyses the relation between money and inflation in Germany in a cost-push/demand-pull model of an open small economy by means of cointegration methods. The full-information-maximum-likelihood method of Johansen as well as structural methods are applied to datasubsets and the full data set. The focus of the paper is on tests for overidentifying restrictions and for weak and strong exogeneity within these data sets. The result of the paper is that the money stock, the price level and gross national product are endogenous whereas the interest rate and the real import price are both weakly and strongly exogenous. By means of the price cointegration relation we illustrate how monetary targeting should react to imported inflation.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01180704
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    Paper (German National Licenses)
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