An Illustrated Guide to Real Wage Growth in the United States
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The main difficulty in pinning down real wage growth is pinning down the appropriate adjustment for inflation. In principle, one should use consumer price inflation. But this series is very volatile, with the result that the signal-to-noise ratio is low. The best solution is to use a slow-moving index that captures
An Illustrated Guide to Real Wage Growth in the United States
An Illustrated Guide to Real Wage Growth in…
An Illustrated Guide to Real Wage Growth in the United States
The main difficulty in pinning down real wage growth is pinning down the appropriate adjustment for inflation. In principle, one should use consumer price inflation. But this series is very volatile, with the result that the signal-to-noise ratio is low. The best solution is to use a slow-moving index that captures