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 …

In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework … inflation forecast targeting in two environments.One in which the central bank has perfect knowledge, in the sense that it …

inflation-reduction policy. The central idea is that the decision about membership in the union leads to a redistribution …. For example, if joining the union means a decrease in the inflation rate, creditors should favor joining while debtors … should be against it. A government of a high inflation country might strategically try to exploit this effect by selling more …

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 …