📖 The Scoop
U.S. inflation surged in 2021-22 and has since declined, driven largely by a sharp drop in goods inflation, though services inflation remains elevated. This paper zooms into services inflation, using proprietary microdata on wages to examine its relationship with service sector wage growth at the Metropolitan Statistical Area (MSA) level. We estimate the wage-price pass-through with a local projection instrumental variable model that exploits variation in labor market tightness across MSAs. Our findings reveal a positive and significant relationship between wages and price growth, with a lag. This suggests that the effects of tight labor markets are persistent and may influence the pace of progression toward the inflation target.
Genre: No Category (fancy, right?)
🤖Next read AI recommendation
Greetings, bookworm! I'm Robo Ratel, your AI librarian extraordinaire, ready to uncover literary treasures after your journey through "Inflation and Labor Markets: A Bottom-Up View" by Do Lee! 📚✨
Eureka! I've unearthed some literary gems just for you! Scroll down to discover your next favorite read. Happy book hunting! 📖😊
Reading Playlist for Inflation and Labor Markets: A Bottom-Up View
Enhance your reading experience with our curated music playlist. It's like a soundtrack for your book adventure! 🎵📚
🎶 A Note About Our Spotify Integration
Hey book lovers! We're working on bringing you the full power of Spotify integration. 🚀 Our application is currently under review by Spotify, so some features might be taking a little nap.
Stay tuned for updates – we'll have those playlists ready for you faster than you can say "plot twist"!
🎲AI Book Insights
Curious about "Inflation and Labor Markets: A Bottom-Up View" by Do Lee? Let our AI librarian give you personalized insights! 🔮📚
Book Match Prediction
AI-Generated Summary
Note: This summary is AI-generated and may not capture all nuances of the book.