Open AccessInflation, wages and money
Author(s) -
Vratislav Izák
Publication year - 1996
Publication title -
prague economic papers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.233
H-Index - 17
eISSN - 2336-730X
pISSN - 1210-0455
DOI - 10.18267/j.pep.107
Subject(s) - inflation (cosmology) , economics , money supply , monetary economics , czech , meaning (existential) , demand deposit , keynesian economics , monetary policy , macroeconomics , psychology , linguistics , philosophy , physics , theoretical physics , psychotherapist
The preliminary results seem to confirm a greater relevance of postkeynesian than monetaristic approaches in the inflation field. Whereas prices are co-integrated, according to CRDW in a static regression, with wages, they are not co-integrated with money, therefore the association between money and prices in four-years period is lower than expected at first sight. One must mention that in the Czech Republic the term exogenous supply of money, has a special meaning.