Barnes, Michelle; Chahrour, Ryan; Olivei, Giovanni; … - In: Public Policy Brief (2007)
unemployment rate gap has tracked this summary measure closely over the past 35 years. At times, however, the summary measure and … the unemployment rate gap have sent somewhat different signals. In terms of relying on the principal components summary … measure vis-à-vis the unemployment rate gap for explaining inflation, we argue that the recent evolution of wage inflation is …
