example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. -- Exchange rates ; Productivity …

example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …

internal devaluation with productivity increasing measures, including capital deepening and laying off low productivity workers …

contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high … incomes experience guilt. The former seek to raise their income, and latter seek to reduce it. The greater the inflation rate …, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a significant …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …