A structuralist inflation curve

Resumo

This paper presents a structuralist model of inflation and applies it to the US economy. The model uses a mark-up rule to specify inflation as a function of income distribution and capacity utilization, as usual in structuralist macroeconomics, but it also includes inflation expectations, the government's inflation target and cost pressures from non-labor inputs as explaining variables. The model shows how inflation and income distribution, measured by the wage share of income, are connected through an inflation curve in the long run.

Ficha do documento

Tipo

Artigo científico

Ano

2014

Instituição

Wiley-Blackwell

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso restrito

DOI

10.1111/meca.12046

Identificador

oai:repositorio.fgv.br:10438/23374

Temas

Economia

Palavras-chave

InflationEconomiaInflação - Estados Unidos