Acceso abierto

Cyclical or countercyclical nature of prices and wages in the euro area

   | 23 jul 2021

Cite

Burns, A. F., & Mitchell, W. C. (1946). Measuring business cycles. New York: NBER Books. https://doi.org/10.1177/00027162472520016110.1177/000271624725200161 Search in Google Scholar

Cooley, T. F., & Ohanian, L. E. (1991, August). The cyclical behavior of prices. Journal of Monetary Economics, 28(1), 25-60. https://doi.org/10.1016/0304-3932(91)90024-I10.1016/0304-3932(91)90024-I Search in Google Scholar

Gu, G. W., Prasad, E., & Moehrle, T. (2018). New evidence on cyclical variation in labor costs in the U.S. Institute of Labor Economics Discussion Paper Series, 11311, 1-49. https://doi.org/10.1162/rest_a_0086310.1162/rest_a_00863 Search in Google Scholar

Haslag, J. H., & Hsu, Y. Ch. (2012). Cyclical co-movement between output, the price-level, and the inflation rate. Advances in Econometrics, 30, 359-384. https://doi.org/10.1108/s0731-9053(2012)000003001610.1108/S0731-9053(2012)0000030016 Search in Google Scholar

Hodrick, R., & Prescott, E. C. (1997). Postwar U.S. business cycles: An empirical investigation. Journal of Money, Credit, and Banking, 29(1), 1-16. https://doi.org/10.2307/295368210.2307/2953682 Search in Google Scholar

Jędruchniewicz, A. (2018). Changes in wages and cyclical fluctuations in Lithuania in view of the Austrian School of Economics. Journal of Management and Financial Sciences, 32, 83-102. Retrieved from https://econjournals.sgh.waw.pl/JMFS/article/view/715 Search in Google Scholar

Kim, Y. W. (1996). Are prices countercyclical? Evidence from East Asian countries. Federal Reserve Bank of St. Louis Review, 78(5), 69-82. https://doi.org/10.20955/r.78.69-8210.20955/r.78.69-82 Search in Google Scholar

Konstantakopoulou, I., Efthymois, T., & Kollintzas, T. (2009). Stylized facts of prices and interest rates over the business cycle. Economics Bulletin, 29(4), 2613-2627. Search in Google Scholar

Kydland, F. E., & Prescott, E. С. (1990). Business cycles. Real facts and a monetary myth. Quarterly Review, 1421, 1-18. https://doi.org/10.21034/qr.142110.21034/qr.1421 Search in Google Scholar

Lee, J. (2004). The comovement between output and prices. Evidence from Canada. Corpus Christi, TX: Texas A&M University-Corpus Christi. Search in Google Scholar

Li, X. (2015, July). The cyclical behavior of prices and inflation (Unpublished dissertation). Faculty of the Graduate School at the University of Missouri-Columbia, Columbia, MO. Search in Google Scholar

Lucas, R. E. Jr (1972). Expectations and the neutrality of money. Journal of Economic Theory, 4(2), 103-124. https://doi.org/10.1016/0022-0531(72)90142-110.1016/0022-0531(72)90142-1 Search in Google Scholar

Lucas, R. E. Jr (1977). Understanding business cycles. Carnegie-Rochester Conference Series on Public Policy, 5, 7-29. https://doi.org/10.1016/0167-2231(77)90002-110.1016/0167-2231(77)90002-1 Search in Google Scholar

Macchiarelli, C. (2013). GDP-inflation cyclical similarities in the CEE countries and the euro area (Working Paper Series, No. 1552). ECB, Frankfurt am Main. Retrieved from https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1552.pdf Search in Google Scholar

Maddala, G. S. (2008). Ekonometria [Econometrics]. Warszawa: PWN. Search in Google Scholar

Male, R. (2010, May). Developing country business cycles. Revisiting the stylized facts (Working Paper, No. 664). London: Queen Mary University of London School of Economics and Finance. Retrieved from https://www.qmul.ac.uk/sef/media/econ/research/workingpapers/2010/items/wp664.pdf Search in Google Scholar

Mazumder, S. (2014, July). The price-marginal cost markup and its determinants in U.S. manufacturing. Macroeconomic Dynamics, 18(4), 783-811. https://doi.org/10.1017/S136510051200060010.1017/S1365100512000600 Search in Google Scholar

McCarthy, J. (1999). Pass-through of exchange rates and import prices to domestic inflation in some industrialized countries. BIS Working Paper, 79, 511-537. https://doi.org/10.2139/ssrn.56076210.2139/ssrn.560762 Search in Google Scholar

Prasad, E. S., & Chadha, B. (1992). Are prices countercyclical? IMF Working Paper, 92, 1-37. https://doi.org/10.5089/9781451851076.00110.5089/9781451851076.001 Search in Google Scholar

Sims, Ch. A. (1980). Macroeconomics and reality. Econometrica, 1, 1-48. https://doi.org/10.2307/191201710.2307/1912017 Search in Google Scholar

Tawadros, G. B. (2010). The cyclical behaviour of real wages. Evidence from Australia. Economics Research International, 2010, 1-5. https://doi.org/10.1155/2010/25072910.1155/2010/250729 Search in Google Scholar

Wolf, H. C. (1991). Procyclical prices. A demi-myth? Quarterly Review, 524, 1-6. https://doi.org/10.21034/qr.152410.21034/qr.1524 Search in Google Scholar