Gagliardone, Luca; Gertler, Mark; Lenzu, Simone; … - National Bureau of Economic Research - 2023
the richness of the data, we adopt a "bottom-up" approach that identifies the Phillips curve's slope by estimating the … complementarities in price setting. Our estimates indicate a high slope for the marginal cost-based Phillips curve, which contrasts with … illustrate how the marginal cost-based Phillips curve offers a transparent means of capturing the impact of supply shocks on …