Scandinavian Working Papers in Economics

Working Papers,
University of Aarhus, Aarhus School of Business, Department of Economics

No 07-9: Long-run properties of some Danish macroeconometric models: an analytical approach

Søren Harck ()
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Søren Harck: Department of Economics, Aarhus School of Business, Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark

Abstract: This paper provides an analytical treatment of various long-run aspects of the MONA model as well as the SMEC model of the Danish economy. More specifically, the analysis lays bare the long-run and steady-state nexus between unemployment and, respectively, inflation and the wage share implied by the wage and price dynamics of these models

Keywords: MONA; SMEC; Employment; Wage share; Inflation; Phillips curve; Error correction

JEL-codes: E12; E24; E25; E31

39 pages, January 1, 2007

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