01688cas a2200241 a 4500 AALejournalIMF001293 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451854718 1018-5941 BD-DhAAL BD-DhAAL Kandil, Magda. Cost of Living Adjustment and Business Cycles : Disaggregated Evidence / Magda Kandil. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students For a sample of US industries, nominal wage and price inflation follow aggregate price inflation closely during economic expansions. Hence, fluctuations in profit markup and real output are moderate in the face of expansionary demand shocks. During recessions, however, industrial nominal wage deflation exceeds that of the aggregate price level. This is in contras to producers' attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently, the increase in the profit markup is correlated with an increase in output contraction and a reduction in workers' real standard of living during recessions. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2000/124 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/124/001.2000.issue-124-en.xml IMF e-Library