Slovenian Academy of Sciences and Arts, Lj. - all departments (SAZU)
13.
Bérinfláció egy liberális, önigazgatáson alapuló gazdaságban
Bajt, Aleksander, 1921-2000
The study discusses a major Yugoslav inflation generator: wage (or, in Yugoslav terminology, personal income) inflation and within it mainly the spill-over mechanism, also called wage-wage spiral. It ...is shown with the aid of mathematical-statistical, econometric analysis that between January 1964 and April 1970-which covers roughly the liberalistic phase of Yugoslav economy and includes the longest "short" cycle with a decelaration of economic activity from 1965 to 1967-high wage industries led in the spill-over process and cycles in economic activity really as polarizers of pull-aheads and catch-ups. In conclusion the author emphasizes that much more work will be needed to establish the place of every industry in the spill-over process and indicates the new possibilities inherent in the econometric analysis of monthly data.
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