Persistence of nominal and real variables under fixed and floating exchange rates: evidence from Greece, 1954-1992

Article Abstract:

There was a persistence of Greek real and nominal economic variables during the post-1975 floating rate and Bretton Woods systems. Cochrane's variance ratio test (1988), which permits decomposition of a series into transitory and permanent elements, and Lo's rescaled range statistic (1991), which recognizes between long-term persistence and short-term dependence, are used to measure persistence. Some variables showed high persistence under floating, while others appeared to be insignificantly affected.

Economics, Research and Development in the Social Sciences and Humanities, Greece, Case studies, Foreign exchange, Bretton Woods Conference, 1944

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Nominal Wage Flexibility and Economic Performance: Evidence and Implications Across Industrial Countries

Article Abstract:

Cross-sectional and time-series regressions are used to analyze short-run cycles of wages, prices and real output for 19 industrial nations. Responsiveness of price and output to productivity shocks are found to increase under aggregate uncertainty. Other interrelationships are also discussed.

Reports, International aspects, Comparative analysis, Economic indicators, Business cycles, Epidemiological research, Cross sectional studies, Time-series analysis, Time series analysis

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Staggered wage setting in nominal and real terms: a comparative analysis

Article Abstract:

Research examining economic behavior patterns characterized by staggered wage rules in real and in nominal terms is presented. It is emphasized that complex eigenvalues in real terms contracts cause oscillatory paths for unemployment and for output.

Research, Contracts, Compensation management, Wages, Wages and salaries, Eigenvalues

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