Cointegration analysis of the monthly time-series relationship between retail sales and average wages in Croatia (CROSBI ID 334742)
Ocjenski rad | diplomski rad
Podaci o odgovornosti
Cziraky, Dario
Price, Simon; Scarbrough, Elinor; Wiggins, Dick
engleski
Cointegration analysis of the monthly time-series relationship between retail sales and average wages in Croatia
A dynamic econometric model of Croatian monthly retail sales and wages is estimated through testing sequential model reduction validity. Such an approach aims at developing well-performing and interpretable dynamic relationships as data-description models. In addition to the model in levels a more economically interpretable error correction model was estimated enabling direct evaluation of the short-run impact of wage change to retail change as well as the periodic adjustment to the long-run equilibrium. It was established that, both in the short-run and in the long-run, retail sales respond to wages thus forming a stable dynamic relationship.
Retail sales; Wages; Cointegration; Equilibrium correction models; General-to-specific modelling
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Podaci o izdanju
40
25.08.2001.
obranjeno
Podaci o ustanovi koja je dodijelila akademski stupanj
Colchester