Long Cycles in Employment, Inflation andReal Unit Wage Costs, Qualitative Analysis and Quantitative Assessment | Science Publications

American Journal of Applied Sciences

Peter Flaschel¹  Timo Teuber¹  Goeran Kauermann¹ 

关键词: Inflation;    wage costs;    qualitative analysis;    quantitative assessment;   

DOI  :  10.3844/ajassp.2005.69.77

学科分类：自然科学（综合）

来源: Science Publications

【 摘 要 】

This study provided some theoretical foundations for the empirical hypothesis. At first presented two simple prototype models of inflation, stagflation and disinflation. We concluded that there are cycles with a phase length much longer than the ordinary business cycle (in fact approximately five times as long as we saw in the empirical phase plots of the paper) which are not long waves from a Schumpeterian perspective, but caused by the fact that systematic changes in real unit-wage costs and also in inflation caused by changes in the (un-)employment rate may be slow, giving rise to interchanging long-lasting regimes of economic prosperity on the one hand and economic stagnation on the other hand.

【 授权许可】

Unknown