The New Keynesian Phillips Curve (NKPC), driven by unit labor costs has been criticized for failing to match inflation … the fit of the NKPC, by introducing a fuller marginal cost proxy, "unit total costs", that is derived from both labor and … non-labor unit costs; the latter includes capital-related costs and production taxes. Borrowing costs are examined …

European Union (E.U.), Greece, Portugal and Spain. Motivated by a micro-founded model of inflation determination, along the …We explore the connection between inflation and its higher-order moments for three economies in the periphery of the … producer prices affect the path of inflation. We develop our analysis with the perspective of economic integration/inflation …