Modelling the Dynamic Relationship between Wages and Prices in Finland
研究芬兰工资与价格的动态关系，重点分析集体工资谈判机制，发现线性差分模型加上误差修正机制能较好描述系统动态，且1968-69年稳定期存在不同的数据生成机制。
The purpose of this paper is to discuss Finnish wage-price dynamics with emphasis on the collective wage bargaining mechanism. The results indicate that the dynamics of the system can be adequately described by means of a linear difference model with a rather sparse amount of lags, completed by error correction mechanisms to ensure proper long-term behavior. Specification of the collective wage bargaining procedure turns out to be a very important part of the model building. Another noteworthy feature is the stabilization period in 1968-69, during which a different data-generating mechanism was in operation. The results do not provide any evidence in favor of the argument that wage indexation prior to stabilization would have had a sizeable effect on the wage-price mechanism in Finland.