The link between labor cost inflation and price inflation in the Euro Area

To gauge inflationary pressures, policymakers generally pay close attention to labor cost developments. A key reason has been the widely held view that labor cost inflation (i.e., wage inflation adjusted for productivity developments) is one of the main causes of price inflation. From a theoreti...

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Autores principales:	Bobeica, Elena, Ciccarelli, Matteo, Vansteenkiste, Isabel
Formato:	Artículo
Lenguaje:	English
Publicado:	Banco Central de Chile 2020
Materias:	INFLACIÓN
Acceso en línea:	https://hdl.handle.net/20.500.12580/4881
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spelling	oai-20.500.12580-48812021-04-24T16:17:20Z The link between labor cost inflation and price inflation in the Euro Area Bobeica, Elena Ciccarelli, Matteo Vansteenkiste, Isabel INFLACIÓN To gauge inflationary pressures, policymakers generally pay close attention to labor cost developments. A key reason has been the widely held view that labor cost inflation (i.e., wage inflation adjusted for productivity developments) is one of the main causes of price inflation. From a theoretical perspective, this assumption represents the post- Keynesian cost-push/price-markup view of the inflationary process whereby wage increases in excess of productivity are seen as putting upward pressure on prices, and wages are the exogenous variable determining the future direction of inflation. To gauge inflationary pressures, policymakers generally pay close attention to labor cost developments. A key reason has been the widely held view that labor cost inflation (i.e., wage inflation adjusted for productivity developments) is one of the main causes of price inflation. From a theoretical perspective, this assumption represents the post- Keynesian cost-push/price-markup view of the inflationary process whereby wage increases in excess of productivity are seen as putting upward pressure on prices, and wages are the exogenous variable determining the future direction of inflation. 2020-09-30T15:08:24Z 2020-09-30T15:08:24Z 2020 Artículo 978-956-7421-67-1 978-956-7421-68-8 (pdf) https://hdl.handle.net/20.500.12580/4881 en Series on Central Banking Analysis and Economic Policies no. 27 Serie Banca Central, análisis y políticas económicas, no. 27 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 71-148 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	English
topic	INFLACIÓN
spellingShingle	INFLACIÓN Bobeica, Elena Ciccarelli, Matteo Vansteenkiste, Isabel The link between labor cost inflation and price inflation in the Euro Area
description	To gauge inflationary pressures, policymakers generally pay close attention to labor cost developments. A key reason has been the widely held view that labor cost inflation (i.e., wage inflation adjusted for productivity developments) is one of the main causes of price inflation. From a theoretical perspective, this assumption represents the post- Keynesian cost-push/price-markup view of the inflationary process whereby wage increases in excess of productivity are seen as putting upward pressure on prices, and wages are the exogenous variable determining the future direction of inflation.
format	Artículo
author	Bobeica, Elena Ciccarelli, Matteo Vansteenkiste, Isabel
author_facet	Bobeica, Elena Ciccarelli, Matteo Vansteenkiste, Isabel
author_sort	Bobeica, Elena
title	The link between labor cost inflation and price inflation in the Euro Area
title_short	The link between labor cost inflation and price inflation in the Euro Area
title_full	The link between labor cost inflation and price inflation in the Euro Area
title_fullStr	The link between labor cost inflation and price inflation in the Euro Area
title_full_unstemmed	The link between labor cost inflation and price inflation in the Euro Area
title_sort	link between labor cost inflation and price inflation in the euro area
publisher	Banco Central de Chile
publishDate	2020
url	https://hdl.handle.net/20.500.12580/4881
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The link between labor cost inflation and price inflation in the Euro Area

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