costs driven by changes in factor prices than to increases in marginal cost precipitated by expansions in output. We explore …

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 …

-run marginal cost in industries where production costs decline over time. In the context of the solar photovoltaic module industry … production costs. While we find a significant effect attributable to excess capacity for some quarters in our sample period, the …