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Author: National Industrial Conference Board
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 31
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Book Description
Author: National Industrial Conference Board
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 31
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Book Description
Author: Mr.Stephen Tokarick
Publisher: International Monetary Fund
ISBN: 1451856873
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
This paper examines some of the factors that have been influential in keeping inflation low in the United States during 1995–98, despite strong growth and high levels of employment. Our results identify three important variables: declines in import prices, a slowdown in the growth of nonwage labor compensation, and a decline in labor costs. We also reassess the role of labor costs and import prices in determining price inflation.
Author: Elena Bobeica
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Chamber of Commerce of the United States of America. Committee on Economic Policy
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 78
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Book Description
Author: United States. Bureau of Labor Statistics
Publisher:
ISBN:
Category : Consumer price indexes
Languages : en
Pages : 268
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Book Description
Author: Martin Neil Baily
Publisher: Washington, D.C. : Brookings Institution
ISBN:
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
Labor market performance, competition, and inflation; Unemployment, unsatisfied demand for labor, and compensation growth, 1956-80; Inflation, flexible exchange rates and the natural - of unemployment; Feedback between monetary policy, labor market activity, and wage inflation, 1955-78.
Author: Robert James Gordon
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 68
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Book Description
The Phillips curve was init-ally formulated as a relationship between the rate of change and unemployment, yet what matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of Phillips curves for both prices and wages extending over the full 1954-87 period and several sub-periods. The most striking result in the paper is that wage changes do not contribute statistically to the explanation of inflation. Deviations in the growth of labor cost from the path of inflation cause changes in labor's income share, and changes in the profit share in the opposite direction, but do not feed back to the inflation rate. Additional findings are that the U.S. natural unemployment is still 6 percent, with no decline in the 1980s in response to the reversal of the demographic shifts that had raised the natural rate in the 1960s and 1970s. The U.S. inflation process is stable, with no evidence of structural shifts over the 1954-87 period. But the wage process is not stable: low rates of wage change in 1981-87 cannot be accurately predicted by wage equations estimated through 1980. Rather than representing a "new regime," wage behavior in the 1980s is the outcome of a longer-term process. The 1980s have witnessed a substantial decline in labor's income share that partly reverses the even larger increase in labor's share that occurred between 1965 and 1978
Author: Alena Pavlova
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This article explores the relationship between labor costs and price inflation under two conditions. Firstly, with linear assumption and classical techniques. Secondly, without assuming linearity, by a novel non-parametric machine learning method, namely gradient boosting. With quarterly data from 1996 to 2022 for V4 countries, we find linear and non-linear dependency between labor cost and price inflation. However, the magnitude of the connection is country-specific and changes over time. Our findings indicate that a significant linear relationship between considered variables does not lead to the higher predictability power of labor cost in a non- parametric model, which predicts inflation. Even opposed, the Czech Republic, the country with the highest correlation between unit labor cost(ULC) and deflator, shows better prediction in a case when the ULC is not in the set of independent variables. This fact highlights the importance of non-linearity for the inflation model.
Author: Mr.Vincent Hogan
Publisher: International Monetary Fund
ISBN: 1451856512
Category : Business & Economics
Languages : en
Pages : 18
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Book Description
Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon could be the result of a series of transitory shocks or of a permanent change in the structure of the economy leading to a lower NAIRU. The paper suggests that, while the NAIRU may have fallen slightly, it has not fallen by an amount sufficient to explain the recent behavior of inflation. A leading explanation for recent inflation performance appears to be favorable price shocks; in particular, the cost of imports has fallen sharply as the dollar has appreciated.
Author: David E. W. Laidler
Publisher: Manchester University Press
ISBN: 9780719005688
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
Monograph comprising economic research papers on the relationships between wages inflation and unemployment in the UK, with particular reference to disaggregating down from the national level labour market and to the role of trade unions - covers trade union militancy, wage determination, wage rate determination by collective bargaining, the Phillips curve, unemployment and vacancies, geographic distribution of unemployment, etc. References and statistical tables.
