Learning about wage and price mark-ups in euro area countries
Alistair Dieppe () and
No 1512, Working Paper Series from European Central Bank
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)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20131512
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