Recent empirical analysis has challenged the common belief that prices are procyclical. Here the analysis is augmented with data on average movements by phase of business cycles. While the data can be interpreted to be consistent with countercyclical prices, the data are also consistent with the...

This paper analyzes the effects of economic growth on labor earnings in Bolivia during 1999-2012. More precisely, we develop a labor market model to capture both cycle and trend effects of prices, and production on earnings, which is estimated econometrically using pseudo-panel data methods. The...