Do Labor Market Activities Help Predict Inflation?

12 Pages Posted: 10 Aug 2010

See all articles by Luojia Hu

Luojia Hu

Federal Reserve Bank of Chicago

Maude Toussaint-Comeau

Federal Reserve Bank of Chicago

Date Written: May 1, 2010

Abstract

The authors conduct an empirical analysis of the role of labor market activities in inflation and conclude that wage growth is not very informative for predicting price inflation. But price inflation does seem to help predict wage growth.

Keywords: unit labor costs, inflation, unemployment, Phillips curve, Price Level, Inflation, Deflation, Business Fluctuations, Cycles

JEL Classification: E31, E32

Suggested Citation

Hu, Luojia and Toussaint-Comeau, Maude, Do Labor Market Activities Help Predict Inflation? (May 1, 2010). Economic Perspectives, Vol. 34, No. 2, 2010, Available at SSRN: https://ssrn.com/abstract=1655986

Luojia Hu (Contact Author)

Federal Reserve Bank of Chicago ( email )

230 South LaSalle Street
Chicago, IL 60604
United States

Maude Toussaint-Comeau

Federal Reserve Bank of Chicago ( email )

230 S. LaSalle St.
Chicago, IL 60604
United States
312-322-8443 (Phone)

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