Lawless, Martina (contributor); Whelan, Karl (contributor) - 2007
Share; Phillips Curve; Sectoral Data
Non-Technical Summary
The simultaneous declines in in ation and the labour share of …
connected. The New Keynesian Phillips Curve (NKPC) proposes a relationship between
in ation and marginal costs, in which rms … future in ation and real marginal cost, on the other. This relationship, known
as the New-Keynesian Phillips Curve (NKPC …