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TL;DRAbstract
The aim of the paper is to present a practical construction of unit labour costs (ULCs) which, on the one hand, doesn't significantly differ from theoretical assumptions, on the other hand, is effective practically. The comprehension "Method effectiveness" shall be understood as small number of assumptions and possibly high availability of data needed to estimate of the measure. The new theoretical approach makes possible to propose the practical method of the quarterly ULCs' estimation. It can be directly used as a supporting tool to take decisions on the monetary policy.
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The aim of the paper is to present a practical construction of unit labour costs (ULCs) which, on the one hand, doesn't significantly differ from theoretical assumptions, on the other hand, is effective practically. The comprehension "Method effectiveness" shall be understood as small number of assumptions and possibly high availability of data needed to estimate of the measure. The new theoretical approach makes possible to propose the practical method of the quarterly ULCs' estimation. It can be directly used as a supporting tool to take decisions on the monetary policy.
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