Firm-Specific Capital and the New-Keynesian Phillips Curve
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A relation between inflation and the path of average marginal cost (often measured by unit labor cost) implied by the Calvo (1983) model of staggered pricing --- sometimes referred to as the "new-Keynesian Phillips curve"--- has been the subject of extensive econometric estimation and testing.
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美国国家经济研究局创建时间：
2005-02-01
