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Empirica

, Volume 17, Issue 1, pp 15–40 | Cite as

Long-term impacts of import prices on domestic prices and wages

An empirical investigation for Austria
  • Alfred Stiassny
Article

Keywords

Economic Growth International Economic Industrial Organization Import Price Domestic Prex 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Zusammenfassung

Anhand österreichischer Quartalsdaten wurde untersucht, ob zwischen Preisen, Reallöhnen, Importpreisen und anderen Variablen kointegrierende Beziehungen bestehen. Da für die untersuchten Zeitreihen mehrere Kointegrationsvektoren gefunden wurden, ergab sich ein Interpretationsproblem. In dieser Arbeit wurde der Kointegrationsraum auf eine Weise transformiert, die es ermöglichte, die Kointegrationsvektoren als “Long-run”-Multiplikatoren zu interpretieren und daher die langfristigen Auswirkungen einer Importpreiserhöhung auf das heimische Lohn- und Preisniveau zu untersuchen. (Der Anhang beschäftigt sich mit der Frage, unter welchen Voraussetzungen solch eine “kausale” Interpretation möglich ist.) Die geschätzten Effekte erwiesen sich als numerisch sehr bedeutend — sie liegen etwas höher als in anderen vergleichbaren empirischen Studien — und gegenüber einer Änderung der Auswahl der Variablen als sehr robust.

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Copyright information

© Gustav Fischer 1990

Authors and Affiliations

  • Alfred Stiassny
    • 1
  1. 1.Institut für Volkswirtschaftschaftstheorie und-politikWirtschaftsuniversität WienWien

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