sticky-price version of the New Keynesian Phillips Curve does a good job of approximating US inflation dynamics. However … countercyclical whereas theory predicts marginal cost should be procyclical, and it employs a counterfactual assumption about the … to the entire underlying model of the NKPC. Thus I conclude that the NKPC fails to give a sound explanation of inflation …

Jackman (1991), we investigate the relationship between inflation and the share more formally by estimating a pricing equation … capture employment adjustment costs and the openness of the UK economy. This model nests the Sbordone (1998) and Gali, Gertler … and Lopez-Salido (2000) relationship between inflation and marginal costs in the limiting case of a constant equilibrium …

wage and price dynamics. Recent empirical implementations stress the idea that these models link inflation to the behavior … declining inflation and labor shares in Euro area. In this paper, we show that with realistic parameters, the canonical Calvo …

This paper presents a new formulation of conflict inflation labeled the "pass-through" approach, which contrasts with … the existing "pressure balance" approach. The model generates Phillips styled inflation - unemployment dynamics that are a … hybrid of Keynesian and NAIRU dynamics. Conflict inflation arises when economic activity rises above the consistent claims …