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Inflation in the USA, UK and Australia:Some Comparisons *
Author(s) -
PERRY L. J.
Publication year - 1981
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1981.tb01068.x
Subject(s) - inflation (cosmology) , economics , phillips curve , wage , inflation rate , demographic economics , econometrics , macroeconomics , monetary policy , labour economics , physics , theoretical physics
USA, UK and Australian wage inflation experiences during the post‐World‐War‐II period are examined principally within the framework of the long‐run Phillips curve model. Attention is drawn to the sensitivity of wage rate changes to retail price level changes and to the possibility of a temporal change in this relationship. The analyses of these countries are compared so as to highlight similarities and differences.