This paper presents a political economy model of inflation as a result of social conflict. Agents are heterogeneous in … terms of income. Agents' income levels determine their ability to hedge against the effects of inflation. The interaction of … model makes a number of predictions concerning which environments are conducive to the emergence of inflation. Inflation …

unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …

inflation is low. Despite the substantial numbers of individuals whose nominal wages fall from one year to the next, we find … that if long-run inflation is one percent higher, the number of individuals with negative real pay growth increases by …

dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is …

markets explain both productivity differences and firm density. Estimating structural model parameters is simple and relies on … model, we find that labor markets which provide cost advantages explain substantial differences in firm productivity …

the gender wage gap as a reflection of men's greater strength and correspondingly higher productivity. This paper … fully explained by differences in experience and other productivity-related characteristics. Second, conditioning on those …

markets. This approach explains a variety of features exhibited in disaggregated trade data, including the higher productivity … industry and firm productivity. …