Inflation and productivity shocks
AuthorChristofides, Louis N.
Mamuneas, Theofanis P.
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We examine whether sectoral productivity shock distributions are conditioned by inflation regimes. We conclude that this is not the case. Our results have implications for the literature on downward nominal wage rigidity and on inflation as a labor market lubricant. © 2002 Elsevier Science B.V. All rights reserved.