Relative Goods' Prices, Pure Inflation, and the Phillips Correlation
---- Acknowledgements -----
We are grateful to several colleagues for their valuable input to this research project. For their support and hospitality, Reis thanks the Hoover Institution at Stanford University under a Campbell national fellowship, Columbia University’s Program for Economic Research, the University of Chicago, and Princeton University where much of the work for this paper was completed. The National Science Foundation provided support through grants SES-0617811 and SES-0921147. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.