Groshen, Erica L.; Schweitzer, Mark E. - Federal Reserve Bank of New York - 1997
Inflation has been accused of causing distortionary prices and wage fluctuations (sand) as well as lauded for … be distinguished from each other in a labor market by the following identification strategy: inflation-induced deviations … among employer's mean wage-changes represent unintended intramarket distortions (sand), while inflation-induced, inter …