Tavani, Daniele; Flaschel, Peter; Taylor, Lance - In: International Review of Applied Economics 25 (2011) 5, pp. 519-538
We introduce the results of a non-parametric estimate of the US wage-Phillips Curve into a simplified version of the model of the wage-price spiral by Flaschel and Krolzig (2008). Making use of Okun’s law, the non-linearity in the wage inflation-employment relation translates into a...
