Table 2. Open in new tab Estimates of... | Oxford Academic

Table 2.

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Estimates of parameters and standard errors (in brackets) of AR(1)+Price Inflation model for the wage inflation δ_w over 1976–2022

	Estimated Parameters					Model Fit Results
$δ_{w}$	$dw 1$	$dw 2$	$μ_{w}$	$a_{w}$	$σ_{w}$	Log Likelihood	$r_{z} (1)$	$r_{z}^{2} (1)$	skewness ${\sqrt{β}}_{1}$	kurtosis $β_{2}$	Jarque-Bera $χ^{2}$	$p (χ^{2})$
AR(1) + Price Inflation	0.2242	0.4127	–0.5361	0.5358	0.1176	32.45	–0.12	0.28	–0.0132	0.7853	1.7508	0.4167
	(0.1229)	(0.1231)	(0.1986)	(0.0175)	(0.0124)

	Estimated Parameters					Model Fit Results
$δ_{w}$	$dw 1$	$dw 2$	$μ_{w}$	$a_{w}$	$σ_{w}$	Log Likelihood	$r_{z} (1)$	$r_{z}^{2} (1)$	skewness ${\sqrt{β}}_{1}$	kurtosis $β_{2}$	Jarque-Bera $χ^{2}$	$p (χ^{2})$
AR(1) + Price Inflation	0.2242	0.4127	–0.5361	0.5358	0.1176	32.45	–0.12	0.28	–0.0132	0.7853	1.7508	0.4167
	(0.1229)	(0.1231)	(0.1986)	(0.0175)	(0.0124)

Table 2.

Open in new tab

Estimates of parameters and standard errors (in brackets) of AR(1)+Price Inflation model for the wage inflation δ_w over 1976–2022

	Estimated Parameters					Model Fit Results
$δ_{w}$	$dw 1$	$dw 2$	$μ_{w}$	$a_{w}$	$σ_{w}$	Log Likelihood	$r_{z} (1)$	$r_{z}^{2} (1)$	skewness ${\sqrt{β}}_{1}$	kurtosis $β_{2}$	Jarque-Bera $χ^{2}$	$p (χ^{2})$
AR(1) + Price Inflation	0.2242	0.4127	–0.5361	0.5358	0.1176	32.45	–0.12	0.28	–0.0132	0.7853	1.7508	0.4167
	(0.1229)	(0.1231)	(0.1986)	(0.0175)	(0.0124)

	Estimated Parameters					Model Fit Results
$δ_{w}$	$dw 1$	$dw 2$	$μ_{w}$	$a_{w}$	$σ_{w}$	Log Likelihood	$r_{z} (1)$	$r_{z}^{2} (1)$	skewness ${\sqrt{β}}_{1}$	kurtosis $β_{2}$	Jarque-Bera $χ^{2}$	$p (χ^{2})$
AR(1) + Price Inflation	0.2242	0.4127	–0.5361	0.5358	0.1176	32.45	–0.12	0.28	–0.0132	0.7853	1.7508	0.4167
	(0.1229)	(0.1231)	(0.1986)	(0.0175)	(0.0124)