A new test of the inflation-real marginal cost relationship: ARDL bounds approach
AbstractWe test the inflation-real marginal cost relationship using data for the United States over the period 1965-2009. We utilize the ARDL bounds approach of Pesaran et al. (2001). We find that higher marginal costs increase inflation.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 108 (2010)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Inflation Real marginal cost Phillips curve Bounds test;
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