Journal article
Testing for equilibrium in the Australian wage equation
Economic Record, Vol.69(3), pp.295-304
1993
Abstract
In this paper a range of unit root and cointegration tests are applied to the time‐series variables most commonly found in the various specifications of the Australian wage equation. We find a contradiction between the standard Dickey‐Fuller (DF) tests and the results from Johansen estimation regarding the order of integration. The conclusion we reach using tests developed by Perron (1989,1990) is that all the variables are trend stationary processes and that the cointegration framework is inappropriate in this case.
Details
- Title
- Testing for equilibrium in the Australian wage equation
- Authors/Creators
- P.E.T. Lewis (Author/Creator) - Murdoch UniversityG.A. MacDonald (Author/Creator) - Curtin University
- Publication Details
- Economic Record, Vol.69(3), pp.295-304
- Publisher
- Wiley
- Identifiers
- 991005543195707891
- Copyright
- © 1993, Wiley Blackwell
- Murdoch Affiliation
- Murdoch University
- Language
- English
- Resource Type
- Journal article
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- 6.10 Economics
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