for inflation dynamics: under right-to-manage, the real wage rigidity also results in smaller fluctuations of inflation …. These findings are consistent with recent evidence suggesting that real wages and inflation only vary by a moderate amount …

avoid the negative potential growth differentials by 2020-23. Total factor productivity was insufficient to avoid a …

Labor productivity (LP) in the United States has gone from being procyclical to acyclical since the mid-1980s. Using … industry-level data, this paper first shows that total factor productivity (TFP), which is LP net of capital deepening, has … reasons for the change in the cyclicality of productivity. By decomposing TFP into technical change and input utilization, it …

This paper derives series for capital utilisation, labour effort and total factor productivity (TFP) from a general … demand pressure. Rather, our measure of aggregate factor utilisation is correlated with detrended labour productivity …, providing more evidence that differences in average and marginal labour productivity may be linked to factor hoarding. Labour …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … 1999-2019, when the Federal Funds Rate and the Euro-Dollar exchange rate are added to the VAR model inflation shows … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how … leadership (i.e. asymmetries in reference norms). -- Inflation Persistence ; Real Wage Rigidity ; Staggered Contracts ; Wage …

current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model … correction terms, and indirectly of income distribution, in the dynamics of wage and price inflation in the U.S. and the euro …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how …