Real output and unit labor costs as predictors of inflation
Granger-causality tests used here find that:  unit labor costs add no predictive power to inflation forecasts; and  the gap between actual and potential output does help predict inflation, but only in the short run.
Volume (Year): (1990)
Issue (Month): Jul ()
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- Hirotugu Akaike, 1969. "Fitting autoregressive models for prediction," Annals of the Institute of Statistical Mathematics, Springer, vol. 21(1), pages 243-247, December.
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