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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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2000
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Schriftenreihe: | IMF Working Papers
Working Paper No. 00/124 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 deflation exceeds that of the aggregate price level. This is in contras to producers' attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently, the increase in the profit markup is correlated with an increase in output contraction and a reduction in workers' real standard of living during recessions |
Beschreibung: | 1 Online-Ressource (42 p) |
ISBN: | 1451854714 9781451854718 |
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spelling | Kandil, Magda E. Verfasser aut Cost of Living Adjustment and Business Cycles Disaggregated Evidence Kandil, Magda E Washington, D.C International Monetary Fund 2000 1 Online-Ressource (42 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 00/124 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 deflation exceeds that of the aggregate price level. This is in contras to producers' attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently, the increase in the profit markup is correlated with an increase in output contraction and a reduction in workers' real standard of living during recessions Online-Ausg http://elibrary.imf.org/view/IMF001/01401-9781451854718/01401-9781451854718/01401-9781451854718.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Kandil, Magda E. Cost of Living Adjustment and Business Cycles Disaggregated Evidence |
title | Cost of Living Adjustment and Business Cycles Disaggregated Evidence |
title_auth | Cost of Living Adjustment and Business Cycles Disaggregated Evidence |
title_exact_search | Cost of Living Adjustment and Business Cycles Disaggregated Evidence |
title_exact_search_txtP | Cost of Living Adjustment and Business Cycles Disaggregated Evidence |
title_full | Cost of Living Adjustment and Business Cycles Disaggregated Evidence Kandil, Magda E |
title_fullStr | Cost of Living Adjustment and Business Cycles Disaggregated Evidence Kandil, Magda E |
title_full_unstemmed | Cost of Living Adjustment and Business Cycles Disaggregated Evidence Kandil, Magda E |
title_short | Cost of Living Adjustment and Business Cycles |
title_sort | cost of living adjustment and business cycles disaggregated evidence |
title_sub | Disaggregated Evidence |
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