Inflation Expectations and the Structural Shift in Aggregate Labor-Cost Determination in the 1980s
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Aggregate labor cost equations tended to overpredict labor-cost inflation in the United States in the 1980s. We consider the hypothesis that a change in the price-inflation-expectations mechanism can explain this apparent structural shift in the 1980s. We examine whether the sharp recession of the
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美国国家经济研究局创建时间：
1992-03-01
