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Learning about wage and price mark-ups in euro area countries

Elena Angelini, Alistair Dieppe () and Beatrice Pierluigi

No 1512, Working Paper Series from European Central Bank

Abstract: In this paper we show that higher flexibility, measured by lower wage and price mark-ups leads to reduced inflationary pressures, increase in competitiveness, and higher output. A rational expectation and a learning version of the ECB JEL Classification: E24, E27, E30, E37, J30

Keywords: competitiveness; nominal adjustment in a monetary union; price and wage mark-ups; rational and learning expectations; unit labour costs (search for similar items in EconPapers)
Date: 2013-02
New Economics Papers: this item is included in nep-eec
Note: 338657
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