U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment
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The Phillips curve was init-ally formulated as a relationship between the rate of change and unemployment, yet what matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of Phillips curves for both prices and wages extending over
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美国国家经济研究局创建时间：
1988-05-01
