BLOCH, HARRY; DOCKERY, A. MICHAEL; SAPSFORD, DAVID - In: Journal of Post Keynesian Economics 26 (2004) 3, pp. 523-545
We consider the impact of primary commodity prices and wages on U.S. inflation in the context of markup pricing. We … 1900 to 2001. We find complete pass-through of commodity prices and wages into inflation of finished goods prices, with … goods prices, a delayed and temporary positive impact on wages (through the unemployment rate), and a strong positive impact …