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A Search for a Structural Phillips Curve*
Cogley, Tim W.; Sbordone, Argia M. - Economics Department, University of California-Davis - 2005
that the dynamics of inflation are well explained by the evolution of real marginal costs. The objective of this paper is …-series model for inflation, unit labor costs, and other variables, and present evidence that their joint dynamics are well …
Persistent link: https://www.econbiz.de/10008620360
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Optimized Taylor Rules for Disinflation When Agents are Learning
Cogley, Timothy; Matthes, Christian; Sbordone, Argia M. - Federal Reserve Bank of Richmond - 2014
disagreement between actual and perceived feedback parameters. The central bank can achieve low average inflation, but its ability …
Persistent link: https://www.econbiz.de/10010758362
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An Optimizing Model of U.S. Wage and Price Dynamics
Sbordone, Argia M. - Department of Economics, Rutgers University-New Brunswick - 2001
The objective of this paper is to provide an optimizing model of wage and price setting consistent with U.S. data. The paper first investigates the predictions of an optimizing labor supply model for the aggregate nominal wage, taking as given the evolution of prices and quantities. In this part...
Persistent link: https://www.econbiz.de/10005750202
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Prices and Unit Labor Costs: A New Test of Price Stickiness
Sbordone, Argia M. - Department of Economics, Rutgers University-New Brunswick - 2001
inflation. Taking as given the paths of nominal labor compensation and labor productivity to approximate the evolution of …
Persistent link: https://www.econbiz.de/10005750207
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Prices and Unit Labor Costs: A New Test of Price Stickiness
Sbordone, Argia M. - Department of Economics, Rutgers University-New Brunswick - 2001
level and the dynamics of inflation. I compare the model's predictions with those of a perfectly competitive, flexible price … rigidity delivers an extremely close approximation both of the price/unit labor cost ratio and of the inflation series, even …
Persistent link: https://www.econbiz.de/10005746181