Keynesian Dynamics and the Wage-Price Spiral:Estimating a Baseline Disequilibrium Approach

0.18

0.16 -

0.14 -

0.12 -

0.10 -

0.08 -

0.06 -

0.04 -

0.02 -

0.00

1955  1960  1965  1970 1975  1980 1985  1990  1995 2000

DFP J

0.025

0.0225

0.0200 -

0.0175 -

0.0150 -

0.0125 -

0.0100 -

0.0075 -

0.0050 -

0.0025

1955   1961    1967   1973   1979   1985   1991    1997

0.020 -

0.015 -

0.010 -

0.005 -

17

0.000

1950  1956  1962  1968   1974  1980  1986  1992  1998

Figure 2: The fundamental data of the model.