A Structuralist Inflation Curve

28 Pages Posted: 15 Mar 2014

See all articles by N. H. Barbosa-Filho

N. H. Barbosa-Filho

Universidade Federal do Rio de Janeiro (UFRJ) - Institute of Economics

Date Written: May 2014

Abstract

This paper presents a structuralist model of inflation and applies it to the US economy. The model uses a mark‐up rule to specify inflation as a function of income distribution and capacity utilization, as usual in structuralist macroeconomics, but it also includes inflation expectations, the government's inflation target and cost pressures from non‐labor inputs as explaining variables. The model shows how inflation and income distribution, measured by the wage share of income, are connected through an inflation curve in the long run.

Suggested Citation

Barbosa-Filho, Nelson Henrique, A Structuralist Inflation Curve (May 2014). Metroeconomica, Vol. 65, Issue 2, pp. 349-376, 2014, Available at SSRN: https://ssrn.com/abstract=2409378 or http://dx.doi.org/10.1111/meca.12046

Nelson Henrique Barbosa-Filho (Contact Author)

Universidade Federal do Rio de Janeiro (UFRJ) - Institute of Economics ( email )

Rio de Janeiro, 22 290 080
Brazil

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