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process in the United States over the 1967-2000 period. Using compensation per hour as the measure of wages, we specify a … productivity growth, and an additional set of labor market variables. The results do not reject the hypothesis that real wages and …
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between wages and prices. A consideration that could loom large is the shortfall in wage gains relative to their pre …
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relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …
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