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Cointegration Tests of the Profit-maximising Equilibrium in Greek Manufacturing 1958-1991

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dc.contributor.author Fountas, Stilianos en
dc.date.accessioned 2010-11-08T10:15:40Z en
dc.date.available 2010-11-08T10:15:40Z en
dc.date.issued 1997-05 en
dc.identifier.citation Fountas, S. (1997) "Cointegration Tests of the Profit-maximising Equilibrium in Greek Manufacturing 1958-1991" (Working Paper No. 014) Department of Economics, National University of Ireland, Galway. en
dc.identifier.uri http://hdl.handle.net/10379/1366 en
dc.description.abstract This paper applies the recently developed cointegration techniques to test for a long-run equilibrium among real wages and the average productivity of labour as implied by profit maximisation in the Greek manufacturing sector. We find evidence for a profit-maximising equilibrium and for adjustment towards this long-run equilibrium through nominal wages and labour productivity. We have also provided an estimate of the elasticity of substitution of 0.23 which is consistent with that of other studies using alternative approaches. en
dc.format application/pdf en
dc.language.iso en en
dc.publisher National University of Ireland, Galway en
dc.relation.ispartofseries Economics working papers;014 en
dc.subject Economics en
dc.subject Profit maximising equilibrium en
dc.subject Error-correction model en
dc.title Cointegration Tests of the Profit-maximising Equilibrium in Greek Manufacturing 1958-1991 en
dc.type Working Paper en
dc.description.peer-reviewed peer-reviewed en

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