the fit of the NKPC, by introducing a fuller marginal cost proxy, 'unit total costs', that is derived from both labor and … relatively less important when unit total costs, rather than unit labor costs, are used as a marginal cost proxy. …

the fit of the NKPC, by introducing a fuller marginal cost proxy, "unit total costs", that is derived from both labor and … relatively less important when unit total costs, rather than unit labor costs, are used as a marginal cost proxy. …