Built-in
Built-in, builtin, or built in may refer to: Computing * Shell builtin, a command or a function executed directly in the shell itself * Builtin function, in computer software and compiler theory Other uses * Built-in behavior, of a living organism * Built-in furniture * Built-in inflation, a type of inflation that results from past events and persists in the present * Built-in obsolescence, in industrial design and economics * Built-in self-test, a mechanism that permits a machine to test itself * Built-in stabiliser, in macroeconomics See also * All pages beginning with "", "" and "" * All pages with titles containing "", "" and "" * Built (other) * Bulletin (other) {{disambiguation ...
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Built-in Inflation
Built-in inflation is a type of inflation that results from past events and persists in the present. Built-in inflation is one of three major determinants of the current inflation rate. In Robert J. Gordon's triangle model of inflation, the current inflation rate equals the sum of demand-pull inflation, cost-push inflation, and built-in inflation. "Demand-pull inflation" refers to the effects of falling unemployment rates (rising real gross domestic product) in the Phillips curve model, while the other two factors lead to ''shifts'' in the Phillips curve. The built-in inflation originates from either persistent demand-pull or large cost-push (supply-shock) inflation in the past. It then becomes a "normal" aspect of the economy, via inflationary expectations and the price/wage spiral. *Inflationary expectations play a role because if workers and employers expect inflation to persist in the future, they will increase their (nominal) wages and prices now. (See real vs. nominal in e ...
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