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The effect of inflation and real wages on productivity: new evidence from a panel of G7 countries

journal contribution
posted on 2009-04-01, 00:00 authored by Paresh Narayan, R Smyth
This article examines the effect of inflation and real wages on productivity within a panel unit root and panel cointegration framework for the G7 countries over the period 1960 to 2004. The main contribution of the article is to provide panel long-run estimates of the effect of inflation and real wages on productivity in the G7 countries over this period. The article finds that for the panel as a whole a 1% increase in real wages generates a 0.6% increase in productivity, while the effects of inflation on productivity are statistically insignificant for most of the individual countries and for the panel as a whole.

History

Journal

Applied Economics

Volume

41

Issue

10

Pagination

1285 - 1291

Publisher

Routledge

Location

London, England

ISSN

0003-6846

eISSN

1466-4283

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

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