Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund.
IMF Institute.
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| ISBN: | 145189998X
9781451899986
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| Notes: | Includes bibliographical references (pages 40-42).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | For a sample of US industries, nominal wage and price inflation follow aggregate price inflation closely during economic expansions. Hence, fluctuations in profit markup and real output are moderate in the face of expansionary demand shocks. During recessions, however, industrial nominal wage deflation exceeds that of the aggregate price level. This is in contras to producers' attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently, the increase in the profit markup is correlated with an increase in output contraction and a reduction in workers' real standard of living during recessions.
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| Other form: | Print version: Kandil, Magda. Cost of living adjustment and business cycles. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2000
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| Standard no.: | 10.5089/9781451899986.001
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