decrease in the number of unions) triggers two opposite effects on real wages, unemployment and inflation. It reduces the …, unemployment and inflation. For sufficiently inflation averse unions the interaction between those two effects produces a Calmfors … position and the shape of this relation, as well as on inflation and unemployment. The paper features two mechanisms, one of …

sense that it understands and observes the process by which private sector inflation expectations are generated, and one in … which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … accommodates private sector inflation expectations) is no longer constant across the disinflation, but becomes state …

Abstract: This paper examines the nexus between news coverage on inflation and households' inflation expectations. In … disconnection between news on inflation, consumers' frequency of expectation updating and the accuracy of their expectations. Our …

constructed nonparametrically on the basis of partial sums.We apply this approach to the federal funds rate and the CPI inflation … the inflation rate is positively related to the nonlinear trend in the interest rate.This positive relation between … interest and inflation is known in the literature as the price puzzle. Thus, our result suggests that the price puzzle is due …