Inflation and Unit Labor Cost

Material TypeArticleLanguageEnglish
TitleInflation and Unit Labor Cost Author(S)ROBERT G KING (Author)
Abstract  We study two decompositions of inflation, ?, motivated by the standard New Keynesian pricing equation of Gali, Gertler, and Sbordone. The first uses four components: lagged ?, expected future ?, real unit labor cost (?), and a residual. The second uses two components: fundamental inflation (discounted expected future ?) and a residua ...Paginationp111–149
Journal TitleJournal of Money, Credit, and Banking  
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