Cost of Living Adjustment and Business Cycles : Disaggregated Evidence /
For a sample of US industries, nominal wage and price inflation follow aggregate price inflation closely during economic expansions. Hence, fluctuations in profit markup and real output are moderate in the face of expansionary demand shocks. During recessions, however, industrial nominal wage deflat...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2000.
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| Series: | IMF Working Papers; Working Paper ;
No. 2000/124 |
| Online Access: | Full text available on IMF |