Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

For a sample of US industries, nominal wage and price inflation follow aggregate price inflation closely during … contras to producers’ attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently …

degree of wage indexation is effective in lowering inflation if nominal wages do not provide, on average, full protection … behavior, the fiscal deficit, inflation and the capital stock. Wage controls have been widely advocated as a response to the … capital decumulation and reduce inflation, since wage moderation implies higher government revenues from the profit tax and …

This article uses two analytical methodologies to understand the dynamics of inflation in Paraguay, the mark-up theory … of inflation and the monetary theory of inflation. We also study the impact of different monetary aggregates. The results … suggest that monetary factors, in particular currency in circulation, play a major role in determining long-run inflation …

.2 percent to 7.8 percent. A fixed wage or indexation to consumption price inflation increases volatility most. Indexation to … wage inflation or unit labor cost growth is preferable, largely preserving labor market flexibility. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes … flatter as inflation declines. Second, macroeconomic volatility shifts the Phillips curve outward, implying that stabilization … policies can play an important role in shaping the trade-off. Third, nominal wages tend to be endogenously rigid also upward …

centralization and inflation? The paper argues that centralized wage setting may offer worse outcomes, despite the existence of a …